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Groupe Schmittgall

presented by October France

€250,000

2%

12 months

B

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location

Location

Paris, France

activity

Activity

Commerce

Presentation of the company

Created in 1985, Groupe Schmittgall is active in the Wholesale of watches and jewellery  sector. 

The company, managed by Gaetan Pinot has 20 employees and is based in Paris 9.

Project Description

 The company request € 250000 to ensure its continuity following the impact of the COVID-19 crisis on its activity.

This project is an Instant Project and the French State supports this company with a guarantee: the principal is guaranteed up to 90%. If the company cannot repay the loan, the State will partially reimburse the lenders on behalf of the company. This State-guaranteed loan is initially a 12-month deferred loan with payment of interest (2%) and principal at the end of the loan. After 12 months, the borrower can (partially) repay the loan. Otherwise, the borrower will repay the loan over a period of 1 to 5 years. A new interest rate of 4,46% will then be applied.

The amount offered on the platform is limited to 122.500€, which is in line with the regulatory limits.