Posted on Feb 11, 2019 2021 at 18:19Updated 11 Feb. 2021 at 18:23
The birth was not easy, but the program to help European SMEs affected by the Covid-19 crisis can finally begin. And it is in France that this will be done with the help of October. The French fintech, which is once again part of the Next 40, will be able to lend a total of 38 million euros to small French companies whose activity has been abused since March 2020 thanks to the guarantee of the European Investment Fund ( FEI) which acts on behalf of the European Investment Bank (EIB).
The member states of the European Union ended up agreeing to contribute 25 billion to a Pan-European Guarantee Fund (EGF) which allows October to concretely start working on the many loan requests that are accumulating to deal with the emergency of a disaster-stricken sector. “The tourism industry is suffering a lot right now, notes Olivier Goy, CEO of October. We raised funds at the end of 2020 to lend to companies in the sector and we will be able to deploy them. “