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#COVID19 : Creation of an emergency fund of 8 million euros to support companies in the Alpes-Maritimes department

#COVID19 : Creation of an emergency fund of 8 million euros to support companies in the Alpes-Maritimes department

Covid 19, a global pandemic, required the implementation of exceptional health measures with the corollary of significant economic consequences. In order to support the economic fabric and meet the cash flow needs expressed by companies, the institutional players in the Alpes-Maritimes department, in a spirit of territorial solidarity, mobilized immediately by creating an emergency fund of a global amount of 8 Million euros.

 

This fund takes the form of a zero-rate loan and complements the other mechanisms and funds set up by the Government and the South Region.

 

In an exceptional situation, exceptional measures and total solidarity: the CCI Nice Côte d´Azur invited for a meeting which was held remotely on March 20, the Department of the Alpes-Maritimes and all the communities of 06.

 

In other words, it brought together the Nice Côte d’Azur Metropolitan Area, the French Riviera Agglomeration Community, the Cannes Pays de Lérins Agglomeration Community, the Sophia Antipolis Agglomeration Community, the Pays de Grasse Agglomeration Community, the Alpes Azur Community of Municipalities and the Pays des Paillons Agglomeration Community.

 

Objective : launch, together, the release of the exceptional emergency fund, define the allocation terms and deploy this system as quickly as possible.

 

The Alpes Maritimes Departmental Council thus contributed € 5 million to the fund, for its part, the Nice Côte d’Azur Metropolis contributed € 1 million, while CCI Nice Côte d’Azur and the Community Agglomeration Cannes Pays de Lérins, respectively released € 500K and € 400K.

 

Companies will be able to apply for a zero-rate loan with an 18-month time lag.

 

Eligibility conditions have also been defined collectively between the partners. And those who can claim it are in particular companies located in the Alpes-Maritimes with a turnover of less than 2M € and less than 20 employees ; but also companies up to date with their social and tax contributions as of December 31, 2019.

 

As well as the companies having suffered a loss of at least 50% of their turnover over 1 month from January 2020 compared to the same period N-1 and N-2.

 

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All will be able to benefit from a minimum loan of € 4,000 up to a maximum of € 10,000, depending on their situation.

 

Information will be communicated to companies at the start of this next week for immediate implementation of the mechanism.

 

Note that the CCI Nice Côte d´Azur, the CMAR PACA and the Provence-Alpes-Côte d´Azur Chamber of Agriculture are the referents for managing the requests of their nationals and the allocation of funds according to the defined criteria.

 

Read also > How Kering’s new business model is generating massive revenue ?

 

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