The reciprocal guarantee societies (SGR) operating in Spain have channeled between January and September financing of 2.457 billion euros towards SMEs and freelancers, through 18,370 guarantees formalized, which implies an increase of 10% in volume compared to the same period of the previous year.
According to what they have stated in a statement, the guarantees granted by these entities so far this year have boosted a total investment in the economy of 3.194 billion euros, thus reinforcing their role as "drivers" of business activity.
The total of credits and loans backed by the SGR (live risk) already amounts to 8.872 billion euros, 7% more than a year earlier. Thanks to this financing, 191,228 SMEs, freelancers, and entrepreneurs are supported, contributing to the maintenance of more than 1.2 million jobs.
In the first nine months of the year, the guarantee societies have consolidated their function as an essential tool to facilitate access to credit for small and medium-sized enterprises, still affected by a context of economic uncertainty and by the rising costs linked to geopolitical tensions in the Middle East, according to the analysis of these entities.
"In this complex scenario for SMEs, the guarantee societies continue to lead business financing, promoting viable projects of SMEs that generate wealth in our economy," emphasized the president of SGR-Cesgar, José Pedro Salcedo.
Within this injection of resources, the re-guarantee of Cersa (Spanish Re-Guarantee Company) plays a decisive role, which has also allowed the guarantee societies to participate in channeling the 'Next Generation EU' funds. Since 2021, the SGR have distributed 11.743 billion euros from these funds among nearly 50,400 SMEs and freelancers, especially favoring initiatives linked to digitalization, sustainability, and improving competitiveness.
Destinations of the guarantees and most active sectors
Between January and September 2026, financial guarantees continued to concentrate the majority of the activity of the SGR, with 88.5% of the total. Within this group, guarantees aimed at investment remain the most requested and represent 48.5% of the formalized amount, while those intended to finance working capital account for 37.1%, in line with the records of the same period of the previous year.
By branches of activity, the services sector once again led the number of operations, with 49.2% of the granted volume, above the 46.7% recorded a year earlier. The guarantees directed to commerce concentrate 17.9% of the financing, a proportion very close to that of the industry, which aggregates 17.5% of the amount. Construction absorbs 9.5% and the primary sector 5.8% of the operations, respectively.
Microenterprises and entrepreneurs, main recipients
If we analyze the business size, microenterprises continue to be the main beneficiaries of the activity of guarantee societies, representing 74% of the total companies supported with their guarantees. If all companies with fewer than 50 employees are included, the percentage rises to 94.5%.
Likewise, the reinforcement of support for entrepreneurship by the SGR stands out, as entrepreneurs already constitute 20.2% of the companies receiving this type of financial support.