The 2020-2022 program contract, signed on August 6 for the entire tourism value chain, plans to support hotel establishments through the “Damane Relance hôtellerie” credit. This new guarantee product is between 80 and 90% depending on the size of the company and is guaranteed to tourist accommodation companies classified by the State. It could be increased to 95% for companies whose turnover exceeds 100 million dirhams (MDH). A series of strict eligibility criteria, contained in an annex accompanying this program contract, have been established.
These companies must first meet the following criteria: be a company under Moroccan private law, and operate a classified tourist accommodation establishment, as defined by law 80-14 and its implementing texts: hotel, hotel club, hotel residence, guest houses, etc.? ; obtain a “bank debt/gross operating surplus” ratio less than or equal to 7.
They must not also be in receivership or liquidation, have bank credit downgraded to “compromise” on February 29, 2020 or paid dividends during the year 2020. According to the program contract, Moroccan companies, which meet these eligibility criteria are invited to send their “Damane revival hôtellerie” credit request to their bank for examination of their file, pending the granting decision a line of credit by the latter, and by the Central Guarantee Fund (CCG).
As for the characteristics of the credit, it is set at 2 months of turnover, with a ceiling set at 100 million dirhams. These credits should be available no later than December 31, 2021 and repaid over a period not exceeding 10 years, including a maximum of 2 years deferred, after the drawing period. This credit should be used up to 20% for the payment of salaries and social charges, 30% for the payment of suppliers (subsidiaries and/or parent company of the beneficiary company excluded). Furthermore, they are prohibited to repay shareholder debts or associated current accounts, nor to pay management fees or carry out balance sheet arrangements (capital increase/reduction, repurchase of shares or shares, etc.) and to amortize the principal of loans taken out with banks.
source:infomediaire.net
