“ Accessing certain markets (banking, bonds etc.) is not always feasible for SMEs. Crowdlending allows those companies to get a new source of funding for their growth alongside more traditional channels. As such, we are committed to support October’s initiative and this innovative operation. ”
SMEs have now been able to borrow through alternative sources alongside the traditional banking system for 4 years.
Grow Together is an operation conceived by October, the first SME lending platform in continental Europe. Thanks to October already more than 500 SMEs have borrowed 240 million euros from a large community of private lenders and institutional investors. More information on october.eu
Leading the way
Large corporates are used to borrow outside of the banking system and to diversify their sources of funding. In contrast, SMEs often only rely on banks.
And yet! Since October 2014, a new reform in France allows them borrow directly from a crowd of individual and institutional lenders, alongside the traditional banking system. Small and medium businesses now have a choice. This is our job at October.
11 large companies
rallying to support better financing solutions for SMEs.
AccorHotels, The Adecco Group, Allianz France, Arkéa, Edenred, ENGIE, Iliad, JCDecaux, SUEZ, Unibail-Rodamco-Westfield and Webhelp are paving the way towards funding diversification for SMEs by symbolically borrowing € 1 100 000 on aggregate through the October platform. For its part, the crowdlending platform will lend € 11 000 000 with no handling fees to SME’s affiliated to the 11 sponsors.
“ Webhelp supports the “Grow Together" operation so that many projects can develop and contribute to strengthening the French economic fabric. Webhelp already supports many start-ups through its incubation program "The Nest by Webhelp" and intends to promote the October ecosystem to its customers and partners. ”
“ Inventor of the Ticket Restaurant program and world leader in payment solutions for the workplace, whether in terms of employee benefits, professional mobility or transactions between companies, Edenred is a privileged observer of the economic world. At the crossroads between fintech and regtech, we note that the main obstacle to the development and innovation of VSE/SMEs, particularly in the catering sector, is linked to the difficulty of financing projects, due to delays, administrative difficulties and the amount borrowed. For this reason, Edenred supports October's initiative. ”
“ Fostering the development of VSEs/SMEs in its territories is a major challenge for Arkéa. The "Grow Together" campaign, alongside October and 10 other renowned partners, is fully in line with this perspective. ”
“ Allianz France supports the real economy, as close as possible to its clients. It’s rewarding for Allianz to be part of the development of young and innovative companies in France and at the European level. Also, Allianz supports October’s economic model as an alternative lending platform for SMEs, a major market for Allianz France. ”
“ AccorHotels is proud to be the first participant in launch the “Grow Together" campaign. The Group has a multitude of partners with whom we must all move forward at the same time to achieve our objectives and ambitions. AccorHotels wanted to be part of this approach as a facilitator to continue to support its partners and promote a virtuous dynamism for all. ”
“ The circular economy is changing traditional business models and focusing on the development of a multiple and collaborative ecosystem. By the nature of its activities, SUEZ is a committed player in this real and circular economy, promoting the development of companies, citizens and territories. ”
“ We have developed an ecosystem that supports the development of innovative companies and ensures that promising ideas receive the resources they deserve. Convinced that access to finance should not be an obstacle to these projects, Unibail-Rodamco-Westfield has joined forces with October to support the diversification of financing sources for SMEs and restore boldness to the heart of entrepreneurship. ”
“ At JCDecaux, we naturally borrow from multiple sources of funding. It’s worth noting that this is not the case for SMEs we work with all around France where we have a strong foothold. We are therefore delighted to open new solutions to these SMEs and to show entrepreneurs it is doable, with utter confidence. ”
“ ENGIE is proud to support the October initiative and thus participate in the development of new sources of financing for entrepreneurs. The "Grow Together" campaign is in line with ENGIE's commitment to contribute to more harmonious progress by bringing together those who want to take collective action that combines performance and sustainability. ”
“ We are proud to support the “Grow Together" initiative because we are convinced that the French economy is played out in the territories, among SMEs. At Adecco, we support SMEs throughout France in their development projects by enabling them to recruit their future talents. ”
SME: Are you eligible for the Grow Together scheme?
If you are a partner or a client of one of the following groups, just click on its logo to request a loan with no processing fees. Else, you can test your eligibility directly on October.
Private lenders :
lend to an industry and its ecosystem through October
Be exceptionally part of the financing process to support large groups and European SME's altogether in a few clicks through October. Learn more.