It is a system put in place to help businesses in the tourism sector. A new loan guaranteed by the State entitled "PGE season" will allow them from August 5 to obtain a credit on the basis of the three best months of turnover achieved in 2019, announced Friday Bruno the Mayor, according to a Bercy press release. For "a campsite, which achieves 80% of its turnover over 3 months" the ceiling of the EMP will thus increase "from 25% to 80% of its turnover for the last financial year," detailed the ministry.
For other sectors, the EMP ceiling corresponds to 25% of annual turnover. The tourism sector, "hit hard by the health crisis" linked to the coronavirus, recalled the minister, will thus benefit from special provisions, and more adapted to the seasonality of their activity, to deal with cash flow problems.
Supported discos
The Bercy press release specifies that the measure is dedicated "to sectors related to tourism, hotels, restaurants, events, sport, leisure and culture". Asked about the situation of the nightlife, Bruno Le Maire slipped on CNews that nightclubs "are among the sectors that will be supported, in particular by these new loans".
The French Banking Federation (FBF) specifies in a press release that for tourism companies "having already subscribed to one or more PGEs, the PGE season will function as a complement, allowing to go up to the ceiling corresponding to the three best months of activity. ".
According to the French banking lobby, the accommodation and catering sectors represent 15% of the EMPs granted. In total, all sectors combined, 114 billion euros have been granted to 555,000 companies in France since the end of March.
Extended partial unemployment
The minister wanted to "reassure those who want to extend the duration of the loan", that is to say ask to repay it over a period longer than a year. "I am negotiating with the French Banking Federation the best possible rates for hoteliers and restaurateurs," he said.
The government has also decided that the partial unemployment scheme put in place for the tourism sector will be extended until December, but the details have not yet been defined.
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Coronavirus: Extended partial unemployment for the tourism sector, according to modalities to be defined
- Covid 19
- Bruno the Mayor
- Coronavirus
- Economy
- Tourism