VSEs and SMEs: Bpifrance launches a 100% online platform for “rebound” loans

Bpifrance launches a 100% online credit platform in partnership with the regions. The public investment bank officially opens it on Monday with the Auvergne Rhône-Alpes region. His goal? Facilitate access to “rebound” loans developed in recent weeks by most regions to help VSEs and SMEs in financial difficulty following the coronavirus.

“This is to simplify the lives of business leaders, to save them time, flexibility and allow us to distribute these loans on a large scale”, explains Arnaud Caudoux, deputy managing director of Bpifrance. Ultimately, the overall envelope of these loans should reach one billion euros, all regions combined.

A loan of 10,000 to 100,000 euros at 0%

Much less known than State Guaranteed Loans (PGE), these loans are however more advantageous and easy to access. Intended for VSEs and SMEs – up to 250 employees and 50 million euros (M €) in annual turnover – they allow borrowing, without any guarantee or administration fees, from 10,000 euros to 100,000 euros at zero rate over seven years. All in record time: within five days maximum. “90% of companies will be able to subscribe within four days: two days of processing and two days for the payment of funds to the account of the company,” says Arnaud Caudoux.

Like the EMPs of which it is intended to complement, the “rebound loan” also has a deferred payment but two years (against one year for EMPs). In other words, the company that subscribes does not pay anything for two years and does not begin to repay its credit until the following five years.

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“These two years of respite should allow the company to breathe and restore its cash,” says Annabel André-Laurent, vice-president of the region in charge of the economy, who has released an envelope of € 265 million. In Auvergne Rhône-Alpes, “the first industrial region in France with 500,000 jobs”, this 100% line system should also make it possible to correct “the administrative heaviness and the difficulties encountered by certain companies in borrowing”.

“The assurance of being treated as soon as possible”

Developed in less than a month by a French Fintech Younited Credit, this platform allows you to submit your loan request online in a few minutes while having the assurance of being treated as quickly as possible, ”explains Geoffroy Guigou, his co-founder and managing director. To do this, the platform split requests lower than € 50,000 from those, larger, of more than € 50,000, in order to provide future borrowers with advice and specific support from Bpifrance.

As for the necessary supporting documents, they boil down to the strict minimum for the business manager (copy of his identity document as well as the business and his RIB). “The other documents – up-to-date articles of association, extract from Kbis less than three months old, last two fiscal years – are directly requested online from the company’s accountant to relieve the entrepreneur and obtain confirmation of his declaration in line. “

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