26.04.2021

Equity loans: Crédit Agricole group steps up to the plate

The Crédit Agricole group has kicked off an aggressive plan to start distributing Prêts Participatifs Relance equity loans, as soon as remaining operational details have been ironed out with the government. Crédit Agricole Assurances will contribute €2.25 billion of financing for these equity loans.

According to Michel Ganzin, Deputy CEO of Crédit Agricole S.A.: “These loans will help fuel a fast and vigorous recovery among the SMEs and MSEs that are the lifeblood of our regional economies. Crédit Agricole is sparing no effort to make this new stimulus scheme available as soon as possible. The goal is clear: we want to support high growth potential companies. That is how we will help our flagship regional businesses create jobs across the country and innovate in support of a greener and more digital economy”.

 

Bringing more than 900 corporate relationship managers on board

Over the past few weeks, all corporate relationship managers at the Crédit Agricole Regional Banks and LCL have been provided with specific tools and resources that detail how this new equity loan scheme will work. This will help the networks hit the ground running and respond to customer requests. The Group’s MSE Division, which was created in early 2021 and is part of Crédit Agricole CIB, is also working to create momentum for the stimulus plan within the Group.

 

Establishing a proactive dialogue with business leaders

The Crédit Agricole group has begun an extensive review of its customer base to identify high-potential companies eligible for the equity loan scheme. Based on its initial rough estimates, nearly 45,000 SME and MSE customers at the Regional Banks and 8,500 at LCL could qualify. Their corporate relationship managers are reaching out to them right now. Webinars and an information campaign will round out this awareness-raising initiative.

 

Enhancing the personalised advisory services

While business leaders look to their company’s future and consider how to pursue their expansion plans, the Group makes every effort to provide a range of personalised support. These customers receive tailored information and advice so they can select the financial solutions that best meet their company’s needs.

 

Harnessing the Group’s expertise to support businesses

These equity loans round out the range of solutions made available to Crédit Agricole’s customers since the outbreak of the public health crisis. In addition to loan repayment holidays and the €32 billion in government-backed loans distributed since March 2020, the Group draws on complementary expertise to support recovery.

Amundi, Crédit Agricole CIB, IDIA Capital Investissement and the 39 Regional Banks’ regional private equity companies are particularly committed to providing equity support. Crédit Agricole Assurances has also committed €2.25 billion of financing for these equity loans and Amundi has committed to manage the vehicle that will house these loans.

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