Solidarity-based honor loans were launched in July 2020 to enable business creators or takeovers in situations of economic fragility to obtain financing to build up or strengthen their equity capital. The scheme has already financed over 2,000 business start-up projects. Here's a closer look at the beneficiaries, conditions and features of PH solidaire.
What is the "prêt d'honneur solidaire"?
Set up by the public authorities and Bpifrance in conjunction with social economy support and financing networks, the "prêt d'honneur solidaire" aims to facilitate the professional and social integration of people in financial difficulty. It enables them to benefit from financing to build up equity capital, in addition to a bank loan, and from 3 years' support from business creation support networks chosen by the regions.
A loan for entrepreneurs in a fragile economic situation
PH solidaire is aimed at people whose tax residence is in France, or who have set up or taken over a company in the last 3 years, and who find themselves in one of the following situations:
- Beneficiary of the Allocation d'Aide au Retour à l'Emploi (ARE), the RSA, the Allocation de Securisation Professionnelle (ASP), the Allocation de Solidarité Spécifique (ASS), or the prestation partagée d'éducation de l'enfant;
- Jobseeker not entitled to unemployment benefit, registered with Pôle Emploi for 6 months or more in the last 18 months;
- Young people between the ages of 18 and 25 (29 if disabled) ;
- Employee or redundant employee of a company in receivership and taking over a company;
- Unemployed person benefiting from a business project support contract (Cape) ;
- Setting up or taking over a business in a Priority Urban Neighborhood (QPPV).
What are the features of the solidarity loan?
The "prêt d'honneur solidaire" is a zero-interest loan (PTZ) of between 1,000 and 8,000 euros. It is granted to the project owner on a personal basis, without any guarantee on his or her assets or those of the company. The repayment period is flexible: between 1 and 5 years, with a grace period ranging from 0 to 18 months.
To benefit, you need to turn to one of the following support and financing networks: Adie, France Active, Initiative France.
More than 2,000 solidarity loans granted since July 2020
Just a few months after the scheme was launched in July 2020, the government has announced that more than 2,000 Prêts d'Honneur Solidaires have already been approved. In a press release issued on December 9, 2020, Élisabeth Born, Minister of Labor, "welcomes the good start made by the Prêts d'Honneur Solidaires, which, in these times of crisis, represent a new tool for developing the professional integration of people far from employment and encouraging the entrepreneurial spirit".