An amendment to the 2022 draft budget will be tabled by the government on Tuesday to extend the state guaranteed loan scheme (PGE) by six months until the end of June 2022, Bercy announced on Monday, confirming a information from Figaro.

“All companies that had prospects before the health crisis must take full advantage of the recovery.

This is why we are extending the distribution of EMPs by six months, ”the Minister of the Economy, Bruno Le Maire, declared on a daily basis.

Almost 60% of BMPs not consumed

This extension must still, to be effective, be endorsed by the European Commission, which should decide on November 17, according to

Figaro

.

More than 690,000 PGEs have been granted for more than 140 billion euros since the start of the health crisis in March 2020, making it possible to replenish the cash flow of companies in the face of a sudden drop in their activity.

To respond to the emergency, the government had put in place an exceptional mechanism of guarantees of up to 300 billion euros.

But the cash flow of many companies did not ultimately deteriorate with the crisis.

This summer, according to the last quarterly barometer published by the public bank Bpifrance and the Rexecode institute, 60% of PGEs had not been consumed, or only a minority.

“Better than expected” indicators

The situation is however very disparate according to the companies and the sectors of activity.

But in general, "the indicators are good today, even better than expected, the distribution figures of the EMP have stagnated for several months, and the intentions of immediate repayment also reflect this good economic situation", a reacted in a statement the French Banking Federation (FBF).

"Most of the EMPs were subscribed in the first months of the health crisis, between March and July 2020", notes the FBF which ensures that "as since the start of the health crisis, French banks will remain mobilized to support their customers and seek with them, as early as possible, the solutions best suited to their situation ”.

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