Launched in June 2020 to support companies in the face of the Covid-19 pandemic, a commercial loan scheme has been extended and extended until the end of 2023 by the government, according to a decree published this Thursday in the Official Gazette. Initially intended for small and medium-sized companies, this aid, which takes the form of a reduced-rate loan, is also being made available to large companies. Its extension is intended to support companies weakened by the war started by Russia against Ukraine “and that have not found financing solutions with their banking partner or private financiers,” the notice of the decree specifies.
For the companies in question, the amount of the loan is limited to “15% of the average annual turnover achieved by the beneficiary during the last three accounting years”, or “50% of the energy expenditure during the 12 months preceding the month of request for assistance”. The loans are distributed through the public bank Bpifrance. This business aid scheme had already been extended in December 2021.
Targeted distribution to a limited number of companies in 2023
As of June 30, 2022, the Government had granted 288 loans at a subsidized rate and reimbursable advances (another support scheme launched in June 2020), for a total amount of 255.2 million euros, detailed the Ministry of Economy. . In 2023, loan distribution is intended to remain “targeted” to a limited number of businesses, Bercy adds.
Source: BFM TV
