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Covid-19: Small businesses denounce pressure from banks to repay state guaranteed loans


These loans were granted a year ago to help employers who were victims of the health crisis. They are asked to define the repayment terms now, without the possibility of changing the method thereafter.

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Are banks putting pressure on companies to repay state guaranteed loans in the context of the Covid-19 crisis? In any case, this is what U2P, the union of local businesses, which represents 3.4 million small bosses in France, ensures. Whether they have decided to repay in the spring of 2021 or 2022 these EMPs set up a year ago, they are asked to define the repayment terms now. And no question of changing your mind afterwards.

Spread out the monthly payments until maximum 2023 with an interest rate that does not exceed 1.5%. Or until 2026 but with a less attractive rate of up to 2.5%. Small bosses must make their choice quickly. The banks are urging them to define the terms of repayment of loans guaranteed by the state. What Dominique Métayer, the president of the union of local businesses does not understand: “From the moment we make this choice, it is irrevocable. You cannot go back, neither to accelerate, nor to decelerate.”

“We are still in a very, very sensitive period and everyone must do their part rather than shoot each other as they say.”

Dominique Métayer, president of the union of local businesses

to franceinfo

Dominique Métayer is asking for more flexibility from banks during a pandemic. But they only apply the conditions set out in the contract between France and the European Union, recalls Maya Atig, the managing director of the French Banking Federation: “The plan is that after a year you have to make a choice. You know, the slightest new discussion with the authorities always takes a long time. As soon as you have to go beyond national borders, it becomes much more complicated and when you have to change 800,000 contracts, that doesn’t happen overnight either. “

>> Covid-19: French public debt soared to 115.7% of GDP in 2020, the public deficit to 9.2%.

Small bosses are now appealing to the Ministry of the Economy. They sent a letter to Bruno Le Maire a few days ago. Since the onset of the crisis, theBanks have granted nearly 134 billion euros in EMPs to nearly 659,000 companies. 90% are very small businesses (TPE). The loan, 90% guaranteed by the State except for large companies, is granted for a maximum of 6 years.



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