It was launched in June 2020 to support businesses in the face of the Covid-19 pandemic. A business loan scheme has been extended and extended until the end of 2023 by the government, according to a decree published Thursday, December 22 at Official newspaper.
Initially intended for small and medium-sized businesses, this assistance, which takes the form of a loan at a reduced rate, is also becoming available to large businesses. Its extension aims to support societies weakened by the war launched by Russia against Ukraine “and having not found financing solutions with their banking partner or private financiers”is specified in the notice of the decree.
A device already extended to the end of 2021
For the companies concerned, the amount of the loan is capped, either at “15% of the average annual turnover achieved by the beneficiary during the last three accounting years”or to “50% of energy expenditure during the twelve months preceding the month of the request for aid”. The loans are distributed through the public bank Bpifrance. This business aid scheme had already been extended in December 2021.
As of June 30, 2022, 288 subsidized rate loans and repayable advances (another support scheme launched in June 2020) had been granted by the government, for a total amount of 255.2 million euros, detailed the Ministry of Finance. ‘economy. In 2023, the distribution of loans is intended to remain “targeted” on a limited number of companies, adds Bercy.
For the government, “these tools are indeed support solutions for companies whose cash flow is particularly impacted, in particular by the rise in commodity prices, and which have not found a market financing solution” or via a loan guaranteed by the State (PGE).