Réunion: Regional rebound fund

Submitted by siha on
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Réunion region (02.07.2020)With the objective of strengthening the cash flow of SMEs affected by the crisis, in the amount of € 30K to € 300K, this aid takes the form of a zero-interest loan and is open to SMEs potentially created for more than a year (with at least 1 balance sheet) This fund allows SMEs to have facilities and the possibility of seeing coming with:  2 years deferred repayment, 0% interest rate, and  No administration fees.

measures summary

With the objective of strengthening the cash flow of SMEs affected by the crisis, in the amount of € 30K to € 300K, this aid takes the form of a zero-interest loan and is open to SMEs potentially created for more than a year (with at least 1 balance sheet) This fund allows SMEs to have facilities and the possibility of seeing coming with:  2 years deferred repayment, 0% interest rate, and  No administration fees.

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Regions / Country
Global challenges
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Description/integral text (Internal-not for publishing)

With the objective of strengthening the cash flow of SMEs affected by the crisis, in the amount of € 30K to € 300K, this aid takes the form of a zero-interest loan and is open to SMEs potentially created for more than a year (with at least 1 balance sheet) This fund allows SMEs to have facilities and the possibility of seeing coming with:  2 years deferred repayment, 0% interest rate, and  No administration fees.

INFO published on Thursday, July 2
Among the measures deployed by the Region, in partnership with BPIFRANCE, the Rebound Loan was initially endowed with € 20 million.
To meet the needs expressed by businesses in Reunion Island, an additional envelope has been allocated to bring the fund to € 28 million.
Nearly 200 companies have benefited from this support.
The envelope is, to date, completely consumed.

However, as part of the new measures, currently being developed at national level and with European funds, a comparable mechanism should be implemented in the coming weeks.