The coronavirus, which has wreaked havoc on health and paralyzed the world economy, has had a particularly impact on the financial sector. In France, the year 2020 marks a turning point for banks, between loans guaranteed by the State, which have increased the debt of French companies, the explosion of savings and the acceleration of digitization. Explanations with ten figures that make you dizzy.
129 billion euros in guaranteed loans
Created at the end of March to support the cash flow of companies undermined by the confinement, the loan guaranteed by the State (PGE) has been an overwhelming success. To date, this loan has been taken out by 630,000 companies, for a total amount of 129 billion euros. This represents around 10% of outstanding bank loans to businesses. As a general rule, a company can obtain an EMP within the limit of 25% of its annual turnover, the amount being 90% guaranteed by the State. No repayment is due the first year, and the maturities can then be spread over a maximum of five years. If the banks only bear 10% of the risk, they have mobilized strongly. Most of the loans were distributed in three months, with a refusal rate of less than 3% according to the banks. However, faced with the crisis, some companies would prefer an outright subsidy, rather than a loan that will have to be repaid.