26-03-2020

Credit Agricole Group

Crédit Agricole, fully committed to supporting businesses and professionals, offers state-guaranteed loans

Crédit Agricole, fully committed to supporting businesses and professionals, offers state-guaranteed loans

The leading financial partner of the French economy, Crédit Agricole Group (Regional banks, LCL and CACIB) has mobilised to support its clients from the first days of the Coronavirus emergency, and as of today will offer all its business clients – regardless of their size and status (farmers, professionals, retailers, artisans, businesses, etc.) and in addition to the measures already announced (payment deferrals, accelerated approval procedures, etc.) – the opportunity to benefit from a massive, unprecedented state-guaranteed loan programme.

This financing takes the form of a 12-month loan with no fees, with the option for the borrower to amortize over an additional one- to five-year period.

These loans, guaranteed between 70% and 90% by the state based on the size of the business, are offered at a rate of 0,25% for small and medium-sized enterprises, and 0,50% for large businesses over the first year.

They can cover up to three months in revenues, allowing entrepreneurs to access the financing required to meet the challenges of this very difficult period.

Thanks to the exceptional mobilisation of its teams who continue to work to support the economy and their clients, Crédit Agricole has made every effort over the past several days to deploy this initiative co-constructed with the government and BPI, offering a rapid and comprehensive solution to its clients. Its business customer advisers are ready to respond to clients who wish to benefit from this emergency initiative.

 

Dominique Lefebvre, Chairman of Crédit Agricole S.A.’s Fédération Nationale du Crédit Agricole, said: “Crédit Agricole is remaining true to its foundations by taking part in the national collective effort. It is working hard to support all its clients throughout France, and will do everything in its power to ensure that they can surmount the unprecedented crisis we are experiencing.”

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