Zero turnover, submerged cash, insufficient deferral of charges … the specter of bankruptcy after the Covid-19 crisis is a threat to which traders, small businesses or artisans are particularly exposed. To avoid this worst-case scenario, € 44 million has been mobilized in the Grand Est region. Code name: Resistance. Decryption of the mechanism.
What help?
The Resistance fund is what we call a fund of last resort. “It is aimed at companies that have failed to obtain conventional bank loans or government guaranteed loans. Often, these are structures which were already fragile before confinement and which, in the absence of activity since the end of March, find themselves with non-existent cash ”, confirms Jean Zordan, director of economic development at the community of Portes from France Thionville.
On the other hand, there is no question of paying off any debts prior to the outbreak of the Covid-19 crisis. “To be clear, the file of a company that is already in receivership will necessarily be retouched.”
What form does it take?
This aid is a repayable advance: in other words, a zero rate loan. It can range from € 2,000 to € 20,000, with a one-year grace period and two-year installments, which leaves room for improvement. Please note, however: a company that has obtained a loan in the traditional banking system cannot benefit from the windfall from the Resistance fund.
Help for whom?
The Resistance fund was set up to help small structures (companies or certain associative forms) to compensate for the lack of turnover during confinement or a reduced resumption of activity due to the health restrictions still in force. This covers entities with 1 to 20 full-time equivalent employees. This criterion has just been extended (before May 15, the ceiling was 10 full-time equivalent employees).
How do I open a file?
The economic development department of the agglo Portes de France remains a very appropriate gateway (in reality, each intermunicipal authority is able to inform applicants). The file itself is investigated by Moselle Attractiveness, the armed wing of the Department for economic issues. An engagement committee meets every Tuesday to follow up, whether favorable or not, on the requests presented.
From the moment the green light is granted, it takes ten days to collect the funds. Applications are processed until the end of August.
More information on the subject, such. 03 82 52 32 28 or directly on the website of the Grand Est Region.
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