The companies having subscribed a loan guaranteed by the State begin to repay their loans. Those whose activity comes only from returning are concerned about their ability to invest. The government considers that problematic cases are few.
by
This is so, this wall. This “wall of the PGE” under which the hosts and restaurateurs fear to be buried, and they describe as the wall of China for six months in the hope of seeing it moved, brick by brick, by the government. The latter, hugged to other projects, has already warned: it will be nothing. And the loans guaranteed by the State subscribed at the beginning of the CVIV-19 crisis begin to be reimbursed by 123,000 tourism companies. Some, with limited reserves, fear to leave their investment capacity, and thus to see in the medium term their degraded attractiveness.
Given the unexpected duration of the pandemic, the government had already given a one-year postponement to start repaying these five-year loans. It is therefore in the spring of 2022, and not 2021, that the repayment schedules begin, but they are now spread over four years: a tightened duration for sums that can reach 25% of the annual turnover.
“If you require restaurant hotels to repay as fast instead of taking advantage of the recovery to continue to maintain and modernize the tools, it will engulf the good management of the crisis by the government”, is worried Karim Sunhavoup, General Manager of the Network of Independent Hoteliers Logis Hotels. The family owner will put a point of repaying his debts, but that will have a price: the aging of the hotel park and the remuneration of the collaborators.
According to the Treasury Directorate, 38% of accommodation and catering companies have contracted a PGE, making it by far the first sector concerned. Tourism accounted for 12 billion euros of outstanding, according to the department, or about 9% of the Mass of the EMP. But for several months, the members of the National Independent Group (NDI) or the National Traveler Transport Federation (FNTV) have the state of worried messages.
“that those who are in capacity to repay can do it “
The most affected are the ones whose business has restarted recently and still have not taken over a cruising rhythm: tour operators, autocarists, holiday centers, Parisian hotels and event specialists. These small businesses are the largest of 25,000 to 30,000 companies in difficulty to repay their EMPs immediately, confirmed in January the French banking federation.
All ask the Government a postponement of the first refunds and a spreading of deadlines over ten years, until 2030, leaves to go to the arm of iron with Brussels and the banks. Alternative proposed by the GNI: a “new Covid loan” spread over fifteen years maximum could allow refund … of the first EMP. A few months ago, others hoped for a conversion of EMPs into participatory loans, quasi-equity to reduce corporate indebtedness.
You have 56.48% of this article to read. The rest is reserved for subscribers.