Credit Agricole : Crédit Agricole, fully committed to supporting businesses and professionals, offers state-guaranteed loans
March 26, 2020 at 10:08 pm IST
Share
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.'
Attachments
Original document
Permalink
Disclaimer
Crédit Agricole SA published this content on 26 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 March 2020 16:37:04 UTC
Crédit Agricole S.A. is one of the leading European banking groups and is the leading financial backer of the French economy. Net Banking Product breaks down by activity as follows:
- retail banking (30.1%): activities in France (Crédit Lyonnais) and abroad. Furthermore, the group is present in France via its 39 regional networks of branches (making it the biggest French banking network);
- finance, investment and market banking (30.1%): standard and specialized bank financing activities (financing for acquisitions, projects, aeronautical and maritime assets, etc.), stock operations, consulting in mergers and acquisitions, investment capital, etc.;
- asset management, insurance and private banking (25.9%);
- specialized financial services (13.9%): consumer loan, leasing and factoring (No. 1 in France).
At the end of 2023, Crédit Agricole S.A. managed EUR 835 billion in current deposits and EUR 516.3 billion in current credits.
NBP is distributed geographically as follows: France (46%), Italy (20%), European Union (14.3%), Europe (7.2%), North America (6%), Japan (1.3%), Asia and Oceania (3 .5%), Africa and Middle East (1.3%), Central America and South America (0.4%).