74 articles in this category
Bpifrance's Bourse French Tech: a grant of up to €30,000 covering 70% of eligible costs for companies under one year old. Eligible costs, application, payments, Emergence and Lab variants, accounting, CIR and JEI.
Bpifrance seed loan (prêt d'amorçage): eligible companies, €50,000 to €100,000, 8 years including a 3-year deferral, no personal surety, the investment variant after a round of at least €200,000, and accounting treatment.
Grant, recoverable advance or PTZI: how Bpifrance innovation project aid works in 2026, what to repay if the project succeeds or fails, how to record the advance in account 1673 and how it interacts with the research tax credit.
Bpifrance prospecting insurance: eligibility, covered expenses, 50% or 65% advance, 30% minimum repayment linked to export revenue, the APA variant, Team France Export and accounting treatment.
France Active guarantee: 65% or 80% of the bank loan depending on the guarantee, at most €50,000 guaranteed, a 2.5% fee on the guaranteed amount, personal guarantee limited or excluded. Who qualifies, ESS loans, and how it fits with honour loans and Bpifrance.
Personal purchase, company buyback with capital reduction, acquisition holding or vendor financing: how to finance a partner's exit in France, with the 2026 tax cost compared on a worked example.
A typical financing plan for buying a French fonds de commerce: expected contribution, 5 to 7-year loan, pledge, personal guarantee, Bpifrance and France Active guarantees, vendor loan, registration duties and a worked example.
Metrics, deck, data room, due diligence: the method to prepare the dossier for a Series A fundraising in 2026, and the role of the accountant and the CFO.
Find, convince and bring in a business angel in 2026: instrument, valuation, shareholders' agreement, governance and the IR-PME tax relief, without losing control.
Factoring and the Dailly assignment both turn trade receivables into immediate cash, but with two opposite logics: full outsourcing versus one-off bank assignment. Our comparison to choose by real need, cost and customer relationship.
At seed stage, the SAFE-style warrant (BSA AIR) and the convertible bond both defer the valuation. One is not debt, the other is. A comparison of criteria, tax and dilution to choose the right instrument for your first round.
The cap table records who holds what: shares, employee and investor warrants, SAFE-style warrants, convertibles and the option pool. Keeping it up to date and reasoning fully diluted is vital before any raise or sale.
The CAF measures the cash your activity generates by itself. Calculation from EBE or net profit, the difference with self-financing and cash, the ratio banks watch, and the real levers to improve it.
A personal guarantee commits the director's estate beyond the company. Proportionality, mandatory wording, duty to warn, alternatives: how to limit the commitment before signing.
Setting up or buying a professional practice means financing a mostly intangible asset: goodwill, equipment and start-up cash. Forecast, structure, guarantees and vendor loan, the method and the pitfalls.
Our articles provide general guidance. A discovery meeting with Samuel HAYOT allows us to analyse your specific case.