State Guaranteed Loan (SGL) and Resilience SGL

Verified 03 October 2025 - Directorate of Legal and Administrative Information (Prime Minister)

The company must repay its PGE within a maximum of 6 years from the date of its grant. In the event of difficulties in repaying its maturities, it can apply to benefit from a restructuring of its PGE and thus obtain a rescheduling.

The companies were given the opportunity to take out a government-guaranteed loan (GPL) during the the Covid-19 epidemic and a Resilience EMP at the beginning of the conflict in Ukraine. These loans granted by the banks were guaranteed by the State to a certain extent. They allowed companies to benefit from a repayment delay of at least one year. Beneficiary companies must repay within a maximum period of 6 years from the date of granting the EMP.

FYI  

It is no longer possible to benefit from the EMP since June 30, 2022. The Resilience EMP ended on December 31, 2023.

One place agreement signed between the State, the Banque de France and the member banks of the Fédération bancaire française (FBF) sets out the conditions under which it is possible to request a rescheduling of its PGE(s). We're talking about restructuring of the EMP.

To request a restructuring, you must complete all of the following conditions :

  • Encounter future cash flow and redemption difficulties for PGE. These difficulties must be confirmed by a public accountant or an auditor.
  • Not be in a situation of cessation of payments. Restructuring the EMP(s) should be a remedy.
  • Not having already benefited from a restructuring of the EMP(s)

The request for the ‘restructuring’ of the PGE also concerns other loans for which the company is experiencing repayment difficulties.

The procedure for requesting restructuring depends on the total amount of the PGE(s) subscribed by the company:

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PGE less than or equal to €50,000

The company must first address its bank to take stock of its ability to repay its PGE(s) and other outstanding credits.

If the situation warrants it, the bank will direct it to the company credit ombudsman to request a restructuring of its PGE(s).

The company can then file a restructuring file online with the Credit Mediation. One procedure specifies all the steps to follow.

The company must attach to its file the following documents :

  • Certification by a public accountant or auditor that the company is not in a position to cessation of payments and that it cannot repay its PGE maturities
  • 12-month cash flow plan
  • Statement of tax and social security debts
  • Document attesting to the company's ability to bounce back (e.g. order book)
  • Proof from the bank that it has been contacted by the company and that it is referring it to credit mediation

Seize the mediation of company credit

FYI  

The company can be helped by a trusted third party (who is a volunteer) to prepare their mediation referral file. He or she may also accompany him or her during the mediation procedure.

Within 48 hours of the referral, the mediator shall verify the admissibility of its application. If the file is complete and admissible, he contacts the company to define an action plan.

The Credit Ombudsman research and propose an agreement to the banks.

At the end of the mediation procedure, two situations are then possible:

  • Agreement reached: The reimbursement of the EMP can then be extended by an additional 2 or 4 years compared to the initial 6-year schedule. The rescheduling of the EMP can therefore extend up to 10 years. The company can also benefit from other measures: spreading of other bank loans, no guarantee premium for the PGE over the additional period.
  • No agreement: the reimbursement of the PGE(s) is not rescheduled

The bank and the company implement the agreement reached through the credit mediation by way of an amendment to the PGE(s) and possibly to the other restructured loans.

FYI  

The Credit Mediation provides a document specifying the functioning of the mediation for a request for restructuring of PGE .

PGE greater than €50,000

A company that is having difficulty repaying its PGE and other outstanding loans must contact its departmental advisor for companies in difficulty:

The departmental advisor directs the company to the most suitable solution:

  • Credit Mediation
  • Commercial Court
Credit Mediation

The company can then file a restructuring file online with the Credit Mediation. One procedure specifies all the steps to follow.

The company must attach to its file the following documents :

  • Certification by a public accountant or auditor that the company is not in a position to cessation of payments and that it cannot repay its PGE maturities
  • 12-month cash flow plan
  • Statement of tax and social security debts
  • Document attesting to the company's ability to bounce back (e.g. order book)
  • Proof from the bank that it has been contacted by the company and that it is referring it to credit mediation

Seize the mediation of company credit

FYI  

The company can be helped by a trusted third party (who is a volunteer) to prepare their mediation referral file. He or she may also accompany him or her during the mediation procedure.

Within 48 hours of the referral, the mediator shall verify the admissibility of its application. If the file is complete and admissible, he contacts the company to define an action plan.

The Credit Ombudsman seeks and proposes an agreement to the banks.

At the end of the mediation procedure, two situations are then possible:

  • Agreement reached: The reimbursement of the EMP can then be extended by an additional 2 or 4 years compared to the initial 6-year schedule. The rescheduling of the EMP can therefore extend up to 10 years. The company can also benefit from other measures: spreading of other bank loans, no guarantee premium for the PGE over the additional period.
  • No agreement: the reimbursement of the PGE(s) is not rescheduled

The bank and the company implement the agreement reached through the credit mediation by means of an amendment to the PGE(s) and possibly to the other restructured loans.

Commercial Court

The departmental companies advisor can refer the company to the commercial court: the company can then request the opening of a conciliation or the appointment of a ad hoc representative or the opening of a collective procedure.

Who shall I contact

Who can help me?

The public service accompanying companies

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