2024-01-07 16:35:52
Bruno Le Maire announced that companies in difficulty, which wish to reschedule state-guaranteed loans (PGE) will be able to do so until December 31, 2026. These loans, granted during the pandemic to keep their cash flow afloat, have also increased their debts.
Companies in difficulty that wish to reschedule the state-guaranteed loans (PGE) from which they benefited during the pandemic will be able to do so until December 31, 2026, the Ministry of the Economy announced on Sunday.
This system was to end on December 31, 2023.
“This will save certain businesses. I have always said that the state-guaranteed loan was there to support businesses, not to be a burden,” said the Minister of the Economy. Bruno Le Maire on France 3. “So, if certain companies still have difficulty repaying, they can continue to reschedule,” he continued. These loans, granted according to Bercy to the tune of 107 billion euros to VSEs/SMEs since 2020 to keep companies’ cash flow afloat during the health crisis, have also increased their debt.
If more than 50 billion loans have been fully repaid, some companies are having difficulty repaying their PGE and can call on a restructuring system via Credit Mediation. This system made it possible to support around 560 companies in 2022 and 2023 by allowing them to spread the EMP by two to four additional years compared to the initial schedule, with maintenance of the State guarantee, specifies the ministry in a statement. This system was supposed to end on December 31, 2023.
1704665530
#rescheduling #companies #difficulty
