The Minister of the Economy Bruno Le Maire, during the press conference on the coronavirus in Paris on October 15, 2020. -

Jacques Witt / SIPA

Another blow and a new support plan.

To help companies hit by the entry into force of a curfew from this Saturday, the Minister of the Economy Bruno Le Maire unveiled on Thursday new financial assistance measures, during a press conference with Prime Minister Jean Castex and several other members of the government.

The solidarity fund will thus be open to companies with less than 50 employees in all sectors located in curfew zones as soon as their loss of turnover reaches at least 50% and for a maximum amount of 1,500 euros per month. “For the duration of the curfew”, detailed Bruno Le Maire.

Support from the solidarity fund uncapped

For hotels, cafes, restaurants, culture, events, sport and certain related activities located in curfew zones, the solidarity fund of up to 10,000 euros per month can now be collected by companies. with a loss of turnover of at least 50% and no longer 70%, added the minister.

In addition, for these sectors, aid will be uncapped from Saturday (although it could not so far exceed 60% of the company's turnover) and these establishments will no longer have to pay employers' social security contributions until the end of the curfew if their loss of turnover exceeds 50%.

Six-month extended EMP

On the other hand, to support the cash flow of companies in all sectors, the State guaranteed loan scheme (PGE) is extended from December 31, 2020 until June 30, 2021, also indicated the Minister of the Economy, recalling that 120 billion euros of these loans had already been distributed.

However, their maximum amount had been set at 300 billion euros by the government and will not be reached at the end of 2020.

Finally, the Minister of the Economy asked "the French Banking Federation to examine" a postponement of the repayment of these loans for an additional year "for companies which really need them".

Such a deferral of reimbursement was requested in particular by the Confederation of Small and Medium-Sized Enterprises (CPME).


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