By setting up a system of guaranteed loans at the start of the health crisis, the State has launched a buoy to many companies for their cash flow. But some of them may be unable to repay their loans.
The Fnac Darty group made the headlines by announcing the repayment, ruby on the nail, of its loan guaranteed by the State (PGE). 500 million euros, borrowed from banks last year, of which 70% guaranteed by the public authorities, allowed the company to pass the epidemic course without hindrance. But this reimbursement could be the tree that hides the forest. 657,000 PGEs have been distributed since last spring, for a total amount of 133 billion euros. The first beneficiary companies must now say whether they wish to repay their EMPs or wait an additional year.
Only a third of companies will be able to reimburse immediately
And only a third of them intend to repay their EMPs immediately, according to figures cited by BFMTV. For the others, the banks and the state will have to wait. According to the BPI France barometer, 23% of companies have exhausted this credit line, 8% are afraid of not being able to repay the sums. This is twice as much as last July… However, the banks would like to remind you that more than half of the companies benefiting from an EMP have still not received their money.
Towards a longer repayment period?
In order to facilitate the repayment of the sums loaned, some employers’ organizations are talking about the possibility of repaying in 6 years, or even 8 years. But this postponement must first obtain the green light from the European Commission. And the Ministry of the Economy has already had the opportunity to say that this delay could only be taken as a last resort. In any case, the reimbursement of EMPs promises to be a stumbling block between the State, the banks and many companies.