On Europe 1, François Asselin, president of the CPME, welcomes the role played by state guaranteed loans (PGE) in helping companies overcome the crisis.

But, he adds, the latter will need other devices to get by.

"We will have to add another tool to the box," he said. 

INTERVIEW

While France has been facing a double health and economic crisis for a year, the State has not hesitated to come and lend a hand to companies by setting up several aids, including loans guaranteed by the State (PGE). , distributed by banking establishments and benefiting from a public guarantee of up to 90% of the amount loaned in most cases.

These EMPs are currently underwritten for a maximum period of 6 years, knowing that no repayment is now required for the first two years.

On Europe 1, François Asselin, president of the CPME, welcomes an "interesting" and useful tool, but calls for new mechanisms to be put in place. 

"It is a tool that has been interesting for many companies to overcome this never-ending crisis," said François Asselin.

But the companies concerned are not out of the woods, and will now have to face the anxiety of repaying debts.

"A year ago, when this funding tool was put in place, we had no idea that it would last as long as that", explains the guest from Europe 1.

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"Many companies, beyond this loan guaranteed by the State, had to face repayment delays, either repayments of loans they had contracted before the Covid period, or rents that they did not 'have not been able to pay and that will have to be repaid at one time or another, either simply social or tax debts that have been shifted. So much so that many companies are starting to wonder how they will cope with all these debts. " 

"Supporting companies out of this crisis"

In January, CPME conducted a survey of 240,000 entrepreneurs.

"It was estimated on this panel that about 200,000 companies out of the 630,000 that, at the time, had signed an EMP, had started using this EMP, and that about 100,000 companies were beginning to have doubts about their ability to overcome their global indebtedness, "says the boss of the organization. 

Faced with this situation, the CPME "is actively working on a new financing tool in order to be able to spread, if possible, all the debts, including the loan guaranteed by the State", assures François Asselin.

"This tool of the EMP, it was absolutely necessary, but it will be necessary to add another tool in the box which makes it possible to support the companies out of this crisis", he adds. 

"The loss ratio will increase, that is to be expected"

But what form could this new tool take?

"We are thinking with the Bercy teams about a consolidation loan. The idea is to bring together all of these debts and spread them out, if possible, over six to ten years. That would allow a lot of companies. to cross this course which is extremely anxiety-provoking and delicate ", indicates François Asselin. 

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And there is urgency, because to hear it, the future could be very complicated for companies impacted by the health and economic crisis.

"We are in a completely paradoxical situation, even abnormal," he said.

"There are around 50,000 business failures in a 'normal' year, and we only had 34,000 in 2020. Many businesses are suspended, and the day when creditors start claiming their due, when the Urssafs go start asking that we pay the charges, many companies risk ending up in default. And there, the loss ratio will increase. This is to be expected, "concludes François Asselin.