Bpifrance mobilized to fly to the rescue of small businesses

The government is trying to do everything to help the small businesses most affected by the Covid-19 to get through the crisis. Bpifrance is mobilized to fly to their rescue. Last week, the public investment bank increased the guarantee given to banks in connection with cash loans. A system that supports 60,000 VSEs and SMEs in France each year (medium-sized businesses are not eligible).

“ In the coronavirus crisis, we encourage companies, VSEs or SMEs, to convert their cash loans into medium-term loans, which we will guarantee at 70%. This is our major response to the crisis, "said Nicolas Dufourcq, the managing director of Bpifrance, on Monday. The public bank also proposes to extend its guarantees for investment loans which will have to be extended.

Read also: Faced with coronavirus, companies are rushing into partial activity

These measures should allow banks to be more accommodating to businesses in difficulty. Friday, after a meeting

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