The Honorary Loan Solidarity, the boost for entrepreneurship

Posted on July 26, 2022, 6:41 PM

An interest-free loan up to 8,000 euros

The Solidarity Honorary Loan (PH Solidaire), one of the three Honorary Loans managed by Bpifrance for support networks, has been specially designed to give every project leader the opportunity to start their own company, even without capital raising. The aim is to fight against any kind of determinism, social, familial or territorial, by giving the boost you can start with, regardless of your situation and your weaknesses. It is therefore intended for beneficiaries of social minimums, job seekers, people from a vulnerable area, a rural revitalization area or a company under protection, but also young people under 25 years (up to 29 years with a disability). With an amount between 1,000 and 8,000 euros, it strengthens the equity of the maker or buyer and leverages the bank loan (of an amount at least equal and with an equivalent repayment period, between 1 and 5 years). The grant conditions are very advantageous, as this zero-rate loan is granted to the person without application costs, i.e. without a guarantee on his goods or the assets of his company.
The only condition: to be supported by one of the three major national support networks providing the loan, Adie, France-Active and Initiative France, which are very regionally based. Initiative France, founded in 1985, brings together 207 local associations (and 770 shelters), all over metropolitan and overseas France. “All of them are unique in that they are connected to and resonate with the needs of their territory, but they exercise a common mission, which is to finance and support the creation and acquisition of companies,” explains Patricia Lexcellent, General Delegate of Initiative France , from.

Patricia Lexcellent, General Delegate of Initiative France.

More than financial support

From the inception of the idea to the company’s three years, the network helps to complete the project, finance its launch or acquisition (in 30% of cases) and perpetuate it. “Being supported during the realization, by having a well-defined financing plan from the start, a project secured by experts, that makes all the difference. As proof, we have a sustainability percentage of 90% over three years. And yet seven out of ten project leaders still do not seek support in France. And this applies even more to those who are the target of the Solidarity Honorary Loan: “Unlike our traditional audience, they do not come to us spontaneously. That is why we have strengthened our national communication, which is transmitted locally, especially on social networks, the only medium that is really able to reach the younger generation. And in the territories, Initiative France associations mobilize and collaborate with actors in the field, such as the Missions Locales, who are very present in the districts, sports associations or locally established networks such as Les Déterminés. Solidarity Honorary loans represent 10% of our financing activity, but they are absolutely essential for this objective”, emphasizes Patricia Lexcellent.
Initiative France supplies approximately 3,700 PH Solidaires per year, alone or in combination with a Loan of Honor Initiative, its ‘own product’. Because we support many young people under the age of 30, we highly recommend them as part of our comprehensive In’cube support program”. And now, until the end of the year, every young person under the age of thirty who joins this program will receive a €3,000 bonus in the form of a grant.

PH Solidaire is released by Bpifrance once the financing plan is finalized with the details of the funds broken down by the actors (PH Solidaire’s share, that of the initiative’s honorary loan, that of the bank loan) and the project validated by the approval committee. “Obtaining a Solidarity Loan of Honor makes it possible to complete the round table, facilitate an approval decision and get behind the bank loan. Our approval lends credibility to the project, especially as bankers are members of our approval committees, in addition to business leaders, lawyers, chartered accountants… These are people who are familiar with the entrepreneurial activity, but also with the economic structure of the area, because a project will not have the same chance of success, depending on the location. »
Initiative France is a very general network, the PH Solidaires it provides therefore covers all types of activities, especially service companies, hotels, cafes and restaurants, beauty salons, graphic design agencies, landscaping or transport… “We really like small businesses projects that enliven local life, because our mission is not only to serve entrepreneurs, but also communities, to help them revitalize their territory. »

Why not you?

Visit the Bpifrance Création website to learn more about setting up a company and find the network that can support you according to your needs.
On the site you will also find the complete entrepreneurship program for everyone, the program that supports the entrepreneurial energy of the neighbourhoods.

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