Covid 19 – State Loans and support to the digitalisation of businesses

As mentioned last week, the government announced several support measures for businesses including the following:

– the strengthening of State loan mechanisms
– support for the digitalisation of businesses, in particular to enable them to carry on their distance selling and click & collect activities.
You will find below practical details regarding these measures:

– State guaranteed and direct State loans

For companies that would not have access to the State-guaranteed loan, specific tools have been created or reinforced.

– Actions to be taken in case of refusal of a State-guaranteed loan

It is possible to resort to the credit mediation of your department. It allows certain applications to be reconsidered with banking institutions in the event of difficulties and to set the terms of an agreement.

If credit mediation is unsuccessful, local committees for the examination of company financing problems (CODEFI) may be called upon to restructure the company’s liabilities and propose new financing.

– New loan mechanisms set up by the State

The government has also set up new support mechanisms for companies that have been denied a State-guaranteed loan despite resorting to the above-mentioned actions.

These support measures are in all cases available to companies which:
– have been denied a State-guaranteed loan
– justify real prospects for recovery
– are not in the process of safeguard, receivership or judicial liquidation

Subsidised loans: a loan of up to 25% of the turnover accounted for in 2019 or during the last financial year. The details and eligibility conditions are presented here.

Repayable advances : up to €800,000 and to a maximum of 25% of the turnover accounted for in 2019 or during the last financial year, repayable over a maximum amortisation period of 10 years. Details and eligibility conditions are presented here.

Exceptional loans for small businesses – equity loans

These loans are available for companies with fewer than 50 employees and can be up to €20,000 euros for companies with fewer than 10 employees and up to €50,000 euros for companies with between 10 and 50 employees. Details and eligibility conditions are presented here.

=> All useful details and contacts regarding these measures can be accessed on this page.

Digitalisation

First of all, we inform you that the turnover resulting from sales made during lockdown will not be taken into account for the calculation of the Solidarity Fund financial aid.

The government issued today a practical guide to assist retailers in their digitalisation.

It complements a guide dedicated to small businesses, for a better use of the digital tools made available to them in this exceptional situation.

In particular, preferential offers have been made to enable retailers and craftsmen to pursue an activity.
In this context, a call for projects was launched on November 2, aimed at identifying operators willing to offer free or preferential solutions during the lockdown period. The above page will therefore be regularly updated.

We invite you to regularly visit the “France Num” website, the government initiative for the digital transformation of VSE/SMEs, which enables you to find solutions for financing your projects.

In addition, we advise you to contact your Chamber of Commerce and Industry to benefit from a personalised support. The Paris Chamber of Commerce and Industry offers several financing schemes and practical guides to support companies in their digital transformation.

Finally, we would like to remind you that the Government published in March a guide of sanitary practices to be respected for the delivery of parcels.

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