State guarantee on business loans (State-guaranteed loans, PGE)
Article 6 of the first amending finance law for 2020 allows the State to guarantee loans granted by credit institutions to non-financial companies registered in France between 16 March and 31 December 2020, up to a total guaranteed outstanding amount of €300 billion. Loans carry a minimum 12-month deferral; the guarantee is paid for, does not cover the full loan and excludes companies in insolvency proceedings.
Measure originators
No official estimate found for this measure.
Measure impact
Companies could obtain bank loans partly guaranteed by the State, with a one-year deferral, for loans granted from 16 March to 31 December 2020. The €300 billion ceiling is a guaranteed amount, not spending: the cost depends on guarantee calls.
Official references
Sources
Procedure timeline
Follow the progress of this fiscal measure through the different stages of the parliamentary procedure.
Administrative implementation
Entrée en vigueur de la mesure et mise en œuvre par l'administration
President of the Republic signature
Publication au Journal officiel
Debate and vote
Debate and vote
Débat et vote en séance publique à l'Assemblée nationale, ou engagement de la responsabilité du Gouvernement (article 49.3)