The Region is launching in partnership with Bpifrance, the RELANCE FEDER REACT EU AUVERGNE-RHONE-ALPES loan fund in support of the cash flow of small and medium-sized enterprises. The loan is for a duration of 5 to 7 years and benefits from a deferred repayment of 1 to 2 years. It is granted without taking a guarantee on the assets of the company or the assets of the manager. The scheme is co-financed by European REACT EU resources, funding as part of the EU’s response to the COVID-19 pandemic. The loan is a joint response from the Auvergne-Rhône-Alpes Region, the European Union and Bpifrance to combat the socio-economic impacts of the coronavirus outbreak and prepare for the recovery of the regional economy.