Since March 2020, 650,836 companies have had recourse to State Guaranteed Loans for a total amount of 135 billion euros in bank loans.
A device that allows the State to guarantee the loan to the banks in the event of default by the company.
According to data from the Banque de France, the default rate on PGEs is less than 0.6%.
Only 3,944 of these companies were the subject of legal proceedings for suspension of payments, including 951 in receivership and 2,993 in liquidation.
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This is good news for the public accounts, even if we do not yet know the amount that the State will have to disburse to compensate for the rare defaults.
The Banque de France also sees it as a reassuring sign for the health of companies.
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However, these figures should be taken in perspective, as most companies have not yet started repaying their EMPs.
If bankruptcies are at their lowest, a rebound in business failures for financial difficulties cannot be ruled out from 2022. In the spring of 2022, all businesses will be subject to the PGE deadlines and the "whatever it is." cost ”will definitely be gone.
Companies have until December 31 to make their final EMP requests.