# Composite cost of borrowing for non-financial corporations

Monthly composite interest rate on new bank loans to non-financial corporations, in percent per year. Rates across corporate loan categories are combined using 24-month moving averages of new loan volumes.

## Key facts

- Latvia had the highest composite cost of borrowing for non-financial corporations of 21 EU countries in August 2026, at 5.75%, and The Netherlands the lowest, at 2.97%. Source: the European Central Bank.
- Published for 22 places, with figures from January 2003 to August 2026.
- Figures last updated on 2026-10-12.

- Indicator id: `ecb_business_borrowing_cost`
- Unit: %
- Note: Annualised agreed rates or narrowly defined effective rates (AAR/NDER) exclude fees and other charges. Corporations are non-financial companies, ESA 2010 sector S.11; the classification changed in December 2014. The euro area aggregate has changing membership. Country histories start at different dates; values may be revised.
- Web page: https://invokely.ai/en/business-borrowing-cost
- API: https://invokely.ai/api/v1/indicators/ecb_business_borrowing_cost

## Rankings

- [EU countries](https://invokely.ai/rankings/business-borrowing-cost/eu-countries.md) (21 places)