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Assistance to tourism : The Mayor announces the launch of a loan guaranteed by the State season

The tourism sector, hit hard by the crisis, will benefit from the August 5, specific arrangements, more adapted to the seasonality of their activity. A new loa

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Assistance to tourism : The Mayor announces the launch of a loan guaranteed by the State season

The tourism sector, hit hard by the crisis, will benefit from the August 5, specific arrangements, more adapted to the seasonality of their activity.

A new loan guaranteed by the State, entitled "PGE-season" will allow from 5 August to enterprises in the tourism sector to obtain credit on the basis of the three best months of sales in 2019, announced this Friday with Bruno le Maire, according to a press release from Bercy. For "a campsite, which earns 80% of its turnover in 3 months" the ceiling of the EMP will "of 25% to 80% of its turnover in the last financial year", has detailed the ministry.

For the other sectors, the ceiling of the PGE is 25% of the annual turnover. The tourism sector, "hit by the crisis," health-related coronavirus, recalled the minister, will also benefit from special provisions, and adapted to the seasonality of their activity, to deal with the cash problems.

discos supported

The release of Bercy specifies that the measure is "dedicated to sectors related to the tourism, hospitality, catering, entertainment, sport, recreation and culture". When asked about the situation of the world of the night, Bruno Le Maire, has slipped on CNews that the clubs "are part of the sectors that will be supported, especially by those new loans".

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The French banking Federation (FBF) clarifies in a press release that for tourism companies "have already subscribed to one or more PGE, the PGE-season work, as a complement, allowing it to go up to the ceiling corresponding to the three best months of activity".

READ ALSO >> The crisis of the Covid-19, a boost for the tourism sustainable?

According to the banking lobby the French, the sectors of accommodation and catering account for 15% of PGE granted. In total, for all sectors combined, a total of 114 billion euros have been awarded to 555 000 companies in France since the end of march.

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The minister wanted to "reassure those who want to extend the life of the loan", that is to say, to ask to repay over a period longer than one year. "I'm negotiating with the French banking Federation the best possible rates for the hotels, restaurants", he said. Moreover, the government has decided that the scheme of part-time unemployment, put in place for the tourism sector would be extended until December, but the modalities have not yet been defined.

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