Repaying state-guaranteed loans, a precedence for companies | EUROtoday

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Despite generally sluggish exercise, the roughly 680,000 corporations which took out a State-guaranteed mortgage (PGE) through the Covid-19 pandemic proceed to honor, willy-nilly, their deadlines. According to figures communicated on Wednesday January 31 by Frédéric Visnovsky, nationwide credit score mediator on the Banque de France, 52% of outstandings had been repaid on the finish of November 2023, out of a complete of 144 billion euros of loans granted.

“There is vigilance, given the economic context, but, to date, we have no warning signals on PGE reimbursements”, assures Mr. Visnovsky. The estimate of gross losses for the State quantities to 4.4% of excellent quantities, or 6.4 billion euros. The internet losses can be 3.5 billion if we consider the assure premiums collected by the State.

For Germain Simoneau, president of the enterprise financing fee on the Confération des PME, these figures usually are not a shock. Business leaders prefer to cut back on other expenditure items rather than not repay their PGE, as well as other financial debts.he explains, they make it a priority. »

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Jean-Guilhem Darré, general delegate of the Union of Independents, confirms this: “Three quarters of our members say they are having difficulty repaying their PGE, which represents for them an average payment of 2,000 euros per month. To achieve this, they say they are reducing their own remuneration and penalizing their cash flow. »

Rating deterioration

The tension exerted on bank accounts also results in an extension of payment deadlines for very small businesses (VSEs), which are usually quick to pay their invoices, “because they absolutely want to maintain good relationships with their suppliers”, observes Mr. Darré. It must also be famous that sure giant corporations, that are doing nicely financially, have repaid their PGE prematurely, which is extra hardly ever the case for small buildings.

Companies all the time have the potential for rescheduling their EMP. Bercy additionally introduced, firstly of January, the extension of the reimbursement deadline till the tip of 2026. But few of them resort to this resolution, which is in actuality double-edged. “When you reschedule your loan, you must do so at current rates, which is around 4.5%”, underlines Mr. Darré. Business leaders, who’ve taken out these loans at charges of lower than 1%, have little curiosity in rising their money owed.

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https://www.lemonde.fr/economie/article/2024/02/01/rembourser-les-prets-garantis-par-l-etat-une-priorite-pour-les-entreprises_6214279_3234.html