Nearly 35% of Tunisian SMEs report that difficulty in obtaining credit directly limits their ability to export, according to the results of the second phase of a survey conducted by the European Investment Bank (EIB) on the challenges facing SMEs in Tunisia in 2025, published on Wednesday.
According to the findings of this survey, carried out under the Trade and Competitiveness Program (TCP) co-financed by the European Union (EU), 45% of SMEs that do manage to export do so on a limited scale due to a lack of resources to meet international standards, develop their logistics networks, or invest in commercial prospecting.
The study, conducted with 150 managers of Tunisian SMEs operating in strategic value chains, particularly the automotive, agro-industrial, and textile sectors, notes that while financing is a crucial lever for business survival and growth, not all Tunisian SMEs have equal access to credit opportunities.
Difficulties in obtaining formal financing
In Tunisia, a significant portion of SMEs continues to face challenges in accessing formal financing, which hampers their development and competitiveness.
In this context, 44% of respondents reported having obtained a loan from a financial institution, 15% were denied, and 38% still rely on informal sources (family, friends, personal networks) to fund their activities.
Only 3% of respondents said they had never sought formal or informal financing, highlighting the need for external financial support to sustain SME operations and growth.
The survey results reveal that SMEs and micro-enterprises, which are essential to the Tunisian economy and represent 95% of the national entrepreneurial fabric, often face loan conditions they consider discouraging.
“Unfavorable interest rates (82%), excessive collateral requirements (52%), and complex procedures (53%) are among the main barriers identified,” the EIB survey notes.
The survey also points out that intangible obstacles, such as a lack of guidance (30%) and insufficient information about available financing options (28%), further limit access to funding.
The EIB works closely with Tunisian banks to make the financial system more SME-friendly.
Through the TCP, the EIB offers local financial institutions shared guarantee mechanisms to reduce their risk exposure when financing investment projects carried out by SMEs in strategic value chains.
A constraining dependence on banks
This situation is consistently confirmed by various stakeholders, including researchers, who note that SMEs need financial resources to maintain their operations and invest. When external financing is required, Tunisian SMEs depend on banks, as the capital market is not a feasible alternative.
Experts point out that the relationship between banks and SMEs is initially hindered by the incompatibility between SMEs’ financial characteristics and banks’ requirements.
This issue, exacerbated by information asymmetry in the credit market and the absence of strong legal protection for creditors, often exposes SMEs to credit rationing, limiting their access to financing and posing a major obstacle to their growth and survival.
