Attention: these measures are likely to evolve!
Contact number 1890 (crisis call-center) for companies.
Measure 1: Lump sum compensation
WHAT: 5,000 EUR per company completely closed or at a standstill as a result of decisions adopted by the National Security Council and belonging to the following sectors:
– Catering (NACE code 55);
– Accommodation (NACE code 56);
– The activities of travel agencies, tour operators, reservation services and related activities (NACE code 79);
– Retail trade (NACE code 47 – except 47.20, 47.62, 47.73).
2.500 EUR per company which must modify their closing days without being closed all week in application of the decisions adopted by the National Security Council.
– Personal services – hairdressers (NACE code 96.021).
IMPACT: Additional / replacement revenue
ADDITIONAL INFO: via a platform that will be accessible on March 27, 2020. Payments will take place from April.
Measure 2: Freeze on credits in progress
WHAT: The Walloon financial tools as a whole (SRIW, GROUPE SOGEPA, SOWALFIN, invests) will grant a general freeze on outstanding loans until the end of March 2020. This freeze may be extended until the end of the month of April 2020.
IMPACT: Grace period up to one month (extendable in 2).
Measure 3: Delays and indulgence in regional procedures
WHAT: Flexibility and indulgence applied by the Walloon Region within the framework of regional procedures (requests for bonuses, subsidies, etc.).
IMPACT: Flexibility of the procedures in progress (jobs, deadline or deadline for repayment of aid, etc.).
– The granting of guarantees at 50% on existing credit lines granted by banks without initial SOWALFIN guarantee, with a maximum commitment of 500,000 EUR, in order to allow these means to be made available to impacted companies;
– The granting of guarantees at 75% on increases in existing lines (Banks – Invests);
– The granting of 75% guarantees on new short-term credit lines (Banks – Invests).
– Leverage on the banking sector: granting a loan equivalent to the loans granted by the banks to face the maturities of the companies in very short term: the bank credits, the SOGEPA / Wallonia Health will double the stake of the banks which support the companies.
– Strengthening public guarantees for bank loans by up to 75%:
supplement the guarantees automatically granted by SOWALFIN (to healthy companies before the crisis): to achieve guarantees of a maximum amount of € 2.5 million per beneficiary
for companies in difficulty: 75% guarantee of a maximum amount of € 2.5 million per beneficiary
– Loans without private counterparty for a maximum amount of EUR 200,000 with a 1-year repayment excess and with a fixed interest rate of 2%.
The extension of the GELIGAR guarantee mechanism from 50 to 250 million:
– 75% guarantee granted automatically
– In compliance with the overall ceiling of EUR 1,500,000 in outstandings per beneficiary
– Guarantee existing short-term lines granted by banks without the guarantee of the Walloon Region
Guarantee the short-term line increases that would be granted to businesses to help them get through this period of crisis. The granting of a moratorium on medium-term credits may be considered as short-term line increases.