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COVID-19: The Solidarity Fund of October 2020

The Solidarity Fund of October 2020

In place since the first quarantine, the Solidarity Fund set up to enable companies to deal with the health crisis, was considerably modified from October 2020. We had previously promised you that we would provide you with more details on the changes announced by the Government, so here are those concerning the new Solidarity Fund. 

> Eligible Companies

The decree of November 2, 2020 relaxed the conditions by eliminating the notion of maximum turnover and profit allowing the entity to benefit from the scheme.

The headcount threshold has also been raised to 50 and companies controlled via a holding company may also benefit from the Solidarity Fund if the notion of headcount threshold is met at group level.

To be eligible, the date of creation of the company has also been modified and must be prior to September 30, 2020.

In summary, we can therefore identify the companies eligible for the Solidarity Fund as follows:

  • Companies with less than 50 employees (thresholds assessed at group level if they are controlled by a holding company);
  • Companies created before September 30th, 2020.

 it is however specified that corporate officers holding a full-time contract on the first day of the month lose the benefit of the scheme (a priori, a marginal case of persons contributing to Unedic on any entity whatsoever, whether internal or external). Similarly, if they receive retirement pensions or daily allowances, these will be deducted from the subsidy if the request for assistance is not linked to a ban on receiving the public.

> Conditions of award

For the month of October 2020, the aid ceiling has been considerably re-evaluated at €10,000, or €333 per day of banning the public.
However, the conditions for granting aid have been made considerably more complex.

Thus, the conditions for granting aid will vary according to several parameters: 

To help you see more clearly, we have prepared an explanatory diagram to help you identify at a glance the extent to which you can apply for this aid:

SOLIDARITY FUND for October 2020
SOLIDARITY FUND for October 2020

NB: If you have been suffering from a compulsory administrative closing, but you meet the conditions allowing you to obtain the aid with regard to the sectors of activity and your turnover has fallen by at least 50%, it is specified that you can use the criterion that is most advantageous to your situation.

> How to apply for aid

As in previous months, the request for this aid must be made on your personal space on the platform

However, the application for the month of October 2020 can only be made from November 20th, 2020 onwards.

If you need futher information, please contact us!

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