Zero-interest loan program launched

A zero-interest loan program called Solidarity Commerce Loan has been introduced by Bpifrance to help merchants affected by violent riots and looting that took place over the weekend of October 17 and 18. The initiative aims to provide financial support to businesses that have suffered damage and need assistance to restore their operations.

Loan terms and eligibility

The loan is available to individual businesses and small and medium-sized enterprises that have been impacted by the incidents. It offers amounts between 5,000 and 50,000 euros, with repayment spread over 36 months, including a 12-month period where no payments are required. No interest will be charged, and no collateral or personal guarantees are needed.

Application process and requirements

To apply, businesses must have a professional bank account and be supported by an accountant registered with the relevant professional order. They also need to authorize Bpifrance to access their recent bank statements. The entire application process is conducted online through the link provided by Bpifrance.

Restrictions and focus on affected businesses

The loan is specifically reserved for stores that have actually suffered physical damage from the riots. It is only available to businesses that have been in operation for more than a year and can provide at least twelve months of accounting records. This ensures that the support is directed toward established businesses that have been genuinely affected by the events.

Government support package

The Solidarity Commerce Loan is part of a broader set of government measures aimed at helping merchants recover from the violence. These include partial unemployment support for employees and a separate fund to assist the smallest businesses. Bpifrance’s director general, Nicolas Dufourcq, emphasized that the program should help merchants regain the financial stability needed to continue their operations.