Investment & Fund Management
ration Nationale des Socama and the European Investment
Full Credential Description
Banque Populaire, in collaboration with the Fédération Nationale des Socama and the European Investment Fund (EIF), established a loan counter-guarantee agreement worth EUR 2 billion under the Investment Plan for Europe (Juncker Plan) and COSME. This initiative specifically targets the financing needs of over 65,000 French micro-enterprises, which often struggle to secure necessary funding for growth.
The tailored solutions provided through this agreement include three innovative loan products: the Socama European Express Loan Without Personal Guarantee, the Socama Creation Loan, and the Socama Business Transfer and Takeover Loan. The Express Loan allows for financing of up to EUR 50,000 without requiring a personal guarantee, with a focus on supporting digital transformation projects. The Creation Loan, aimed at businesses less than two years old, offers up to EUR 30,000 for various startup costs, limiting personal guarantees to 50% of the loan amount. The Business Transfer and Takeover Loan provides up to EUR 150,000 for financing business acquisitions, with personal guarantees capped at 25%.
Since the inception of their partnership with the EIF in 2003, Banque Populaire has financed 200,000 micro-enterprises, amounting to EUR 6 billion in loans. This new agreement is expected to further enhance access to credit for micro-enterprises, enabling them to invest in growth and digital transformation, thereby contributing to job creation and economic development in the region.