Covid-19. State guaranteed loans: deferred repayment

This postponement was eagerly awaited by companies. Bruno Le Maire, the Minister of the Economy, announces this Thursday, January 14 that State Guaranteed Loans (PGE) can begin to be repaid from March 2022. Until now, the deadline was set at March 2021.

Just before Christmas, the bank Caisse d’Épargne Bretagne-Pays de la Loire had already offered it to its clients. Concretely, a manager who has contracted an EMP in April 2020, normally has until April 2021 to start repayment. Or return it if it is not used. The Caisse d’Épargne, like all banks now, has extended this period by one year, until April 2022, in our example. Why ?

EMPs that become equity?

“We are aware of the current difficulties experienced by our customers who have contracted 4,000 PGEs with us, explains Christophe Pinault, Chairman of the Caisse d’Épargne Bretagne-Pays de la Loire Management Board, this additional year of reflection will allow us to work with them for the future, or even find a solution for exiting this EMP. “

The bank’s executive board works in particular on proposals for possible outflows from EMPs in the form of equity. It could be done via the bank’s investment fund, Sodero gestion. The objective is to restore flexibility to the company so that it can borrow again for real structuring investment projects. It should be noted that to date, a very large part of the 4,000 PGEs of the Caisse d’Épargne have not yet been consumed and the average of these PGEs, for companies, is 461,000 €, and 52 000 € for professionals such as craftsmen or traders.

Since March 26, 2020, there have been 27,158 EMPs in Pays de la Loire for an amount of 5.1 billion euros. 25,070 in Brittany for 4.7 billion euros and 22,852 in Normandy for 3.2 billion euros.


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