Ransacked businesses: the government announces zero-interest loans of up to 50,000 euros from Friday

Faced with the extent of the damage, the government is trying to help the affected traders. Three days after the violence, looting and damage that occurred on Saturday October 17 and Sunday October 18, several ministers presented this Tuesday a new series of measures following an exceptional Business Council organized in Bercy. Among the main announcements is the implementation, from Friday, of a zero-interest loan of up to 50,000 euros, intended for affected businesses.

This system will be proposed by “the Public Investment Bank (Bpifrance)”, specified the Minister of the Economy, Roland Lescure. To benefit from it, merchants will simply have to submit a claim declaration to their insurance. The objective is to enable them to quickly have liquidity to deal with the consequences of damage and restart their activity. “We take this moment with extreme seriousness,” insisted the minister, assuring that the government would continue to treat the situation with the same seriousness.

A support fund for companies with fewer than 50 employees

Another measure announced: the creation of a support fund specifically intended for companies and businesses with fewer than 50 employees. According to the Minister of Commerce, Serge Papin, its parameters must be discussed this Tuesday afternoon. The system will notably take into account the losses in turnover recorded since October 17. A way of supporting companies which, beyond material damage, suffer an interruption in their activity, sometimes a few weeks before the crucial commercial deadlines of Black Friday and Christmas.

Local authorities have also started to mobilize. Serge Papin notably cited the Provence-Alpes-Côte d'Azur region, which announced a budget of 5 million euros, with fixed aid of 10,000 euros for each affected business. Initiatives have also been taken in the Lyon region.

To alleviate cash flow difficulties, the Minister of Action and Public Accounts, David Amiel, for his part announced facilities for spreading charges. The General Directorate of Public Finances (DGFiP) was asked to allow a simplified rescheduling of the tax debts of affected companies. These provisions complement the measures already announced on Monday by the executive, in particular the coverage of partial unemployment and the deferral of certain social and tax charges.

Serge Papin also wants to bring together the commercial courts in order to promote a “flexible and caring” attitude towards companies weakened by events. In conjunction with the Minister of Justice, the government also intends to examine ways of making it easier for traders to file complaints.

Make the looters pay

Beyond economic support, the government also intends to strengthen the response against the perpetrators of the damage. David Amiel thus insisted on the need to “make the looters pay”, referring to the upcoming examination of the so-called “threasers pay” bill, intended to strengthen the financial responsibility of the perpetrators of destruction.

The Minister of Public Accounts also announced that he wanted to deduct from social benefits illicit income originating in particular from trafficking, theft or the receipt of stolen goods. To implement this orientation, it intends to accelerate the exchange of information between the different administrations, relying in particular on the additional means provided for by the law against fraud adopted this year.