Credit union loans to businesses: Jean-Claude Marcourt introduces experiment to government
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    Credit union loans to businesses: Jean-Claude Marcourt introduces experiment to government

    ©Belga
    ©Belga

    On Thursday, the Walloon Minister for the Economy, Jean-Claude Marcourt, is to report to the government on the terms and conditions of an experiment aiming to set up a process in Wallonia for mobilising private savings for SMEs and self-employed workers, following the “win-win loan” system in Flanders. This concept aims to allow private citizens to loan money to businesses and to benefit fiscally. The goal is to diversify funding sources for businesses and thus support the economy. Contrary to the situation in Flanders, Wallonia will not guarantee loans against bankruptcy, explained the PS minister in front of a Walloon parliament commission, answering a question from Dimitri Fourny (cdH). However, the lender will be promised the entire tax reduction, whether the loan is paid back or not. This will protect the lender from too great a loss whilst ensuring expenditures remain predictable in the Region, to avoid any budgetary overheating, added Mr. Marcourt.

    The test suggested to the government on Thursday, will allow them to identify who lenders and borrowers are, how much money is invested, and how long loans are.

    As well as the Marcourt project, 2 separate proposals for a decree were submitted to the Walloon parliament by the Green opposition and by MR to replicate the Flemish model. Economic authorities showed themselves to be very much in favour of the measure when questioned in May.

    Oscar Schneider (Source: Belga)