Coronavirus crisis: Societe Generale makes available loans with the French state guarantee to its clients
Societe Generale is fully engaged and will propose French state guaranteed loans to its Professional and Corporate clients starting from Wednesday. Through a partnership with the French State and Bpifrance, Societe Generale proposes loans with a French state guarantee to its clients (Professionals and Coporates) affected by the Coronavirus crisis loans with a French state guarantee
These loans, granted at cost price and with a up to 90% guaranteed by the French State, will help support the company cash-flows that have been weakened by the crisis. The one year loans can represent up to three months of turnover excluding tax. At the end of the first year, the client can either repay the loan or amortize it over one to five additional years.
Clients eligible for this scheme and willing to strengthen their treasuries which have been put under pressure by the crisis, will be able to contact their usual Societe Generale representative until the end of the year.
“We are fully engaged to support the economy, in particular through this scheme which aims at strengthening the cash flow of companies weakened by the health crisis. This facility was made possible thanks to a strong cooperation with the French government and it will allow our bankers to provide even better support to their clients during this difficult period "explains Marie-Christine Ducholet, Head of Societe Generale Retail Banking in France.
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