Professionals from the events and tourism sector demonstrate in Cannes in June 2020. -
LIONEL URMAN / SIPA
Since mid-March, banks had granted a moratorium on corporate loans.
This moratorium ends in September, which could put businesses in difficulty.
The government is promoting several mechanisms, such as loans guaranteed by the state.
For many businesses, the end of September is going to be a source of anxiety.
In a few days, the moratorium on their bank loans, which had lasted since March and the confinement, will end.
In other words, we will have to start repaying the banks the deadlines suspended for six months.
According to a statement made by the French Banking Federation (FBF) at the end of July, two million business loans are concerned, for a total amount of 20 billion euros.
The stakes are high.
For companies, having to repay the loan can be complicated, when activity does not restart in all sectors.
With less cash flow and sharply increasing expenses, things can get complicated very quickly, with bankruptcy as a worst-case scenario.
For banks, the challenge is to collect receivables and bring in fresh money, without sinking client companies.
"From the end of each moratorium, many companies will normally resume payment of their installments," explains
“For those who would encounter particular difficulties, the banks have undertaken to study in a personalized way, with their customers, the possibilities corresponding to the situation: spreading, modulation…” she continues.
Belgium and Italy as an example?
“Payment difficulties are our main concern,” confirms Bénédicte Caron, vice-president of CPME (small and medium-sized enterprises).
We consider that all companies that had a reliable economic model before the pandemic must be supported to find this model.
There are entire sectors, such as events or tourism, where the recovery will take a long time ”.
These two sectors, particularly affected, will nevertheless be entitled to a break: the government has enacted the extension of the moratorium on credits until next year (for events, these are events related to culture and sport).
In view of the perilous economic situation, several EU member countries have made the same choice, but for all companies, all sectors combined.
The federation of Belgian banks (Febelfin) has thus agreed to suspend requests for repayments until the end of December, "given the slowness of the process of economic recovery and the need to have more oxygen for businesses" .
In Italy, the debts of companies and households - which represent 301 billion euros - are also suspended until January 2021.
Loans, far from being a miracle solution
In France, the executive did not want to go so far: “in certain sectors, there is a resumption of activity, indicates to
a close friend of Bruno Le Maire.
The VAT receipts for August 2020 are even higher than those for 2019, there is a recovery in consumption.
In addition, there is a whole network of solutions to relieve the cash flow of companies, such as loans guaranteed by the State (PGE) and measures of the recovery plan ”.
For the government, the moratorium on credits is therefore only one solution among others.
But the other devices put forward by the State are not "free".
The famous EMP, requested by more than 550,000 companies since its creation, makes it possible to bring a little cash very quickly to companies that lack it (the loan amount can represent up to three months of turnover).
But like all conventional loans, it is intended to be repaid, starting in 2021. At that point, if activity has not sufficiently restarted, many companies that have borrowed risk finding themselves in difficulty.
“Some are currently on a drip,” recognizes Bénédicte Caron.
We will not get out of a crisis like this one without it being broken ”.
Coronavirus in Lille: Deprived of a real Braderie, Lille traders have low morale at the start of the school year
Reindustrialisation, ecology, solidarity… What does France's 100 billion euro recovery plan provide?