TPE-PME growth loan 2026: financing a step up without a guarantee
The Bpifrance growth loan finances development projects, including intangibles, with no guarantee or personal surety. Amounts, term and complementarity with the bank loan.
Expert note: This article was written by our chartered accountancy firm. Information is current as of 2026. For a personalised review of your situation, contact us.
Quick answer. The Bpifrance growth loan finances tangible and above all intangible investments linked to a development project, with no guarantee or personal surety. The standard growth loan ranges from 10,000 to 300,000 euros; the transmission growth loan, dedicated to buyouts, can reach 5 million euros over 3 to 7 years with a repayment deferral. It generally combines with a classic bank loan.
Financing a development step often stumbles on intangibles: recruitment, prospecting, communication, compliance, which classic banks finance poorly for lack of a guarantee. The Bpifrance growth loan answers precisely this need, with no guarantee or personal surety. Here is how it works and when to use it.
A loan to finance intangibles#
The growth loan fills a blind spot of classic bank financing.
Banks readily finance equipment, which serves as a guarantee, but balk at intangibles: recruitment and training expenses, prospecting new markets, communication, environmental or safety compliance. The growth loan finances precisely these development investments, tangible and intangible, where they are hardest to finance otherwise.
It is this targeting of intangibles and development that makes the scheme valuable for a company wanting to step up, alongside the Bpifrance guarantees.
No guarantee or personal surety#
The most striking feature of the growth loan is the absence of a required guarantee.
The growth loan is granted with no guarantee on the company's assets and no personal surety from the owner. This protects the owner's personal estate, unlike a classic bank loan often coupled with a surety. In return, Bpifrance's analysis focuses on the solidity of the project and the repayment capacity, and the loan fits within an overall financing plan.
This absence of a personal surety is a decisive estate advantage for the owner, to weigh against the analysis of the self-financing capacity.
Amounts, term and variants#
The growth loan comes in versions depending on the need, from development to transmission.
The standard growth loan finances an amount between 10,000 and 300,000 euros for development investments. The transmission growth loan, dedicated to company buyout, can reach 5 million euros, over a term of 3 to 7 years, with a capital repayment deferral of up to 2 years, which eases cash while the operation produces its effects. Regional variants exist for the smallest structures.
| Variant | Amount | Feature |
|---|---|---|
| Growth loan | 10,000 to 300,000 euros | Development, tangible and intangible |
| Transmission growth loan | up to 5 million euros | Buyout, 3 to 7 years, deferral up to 2 years |
| Regional variants | smaller amounts | Small structures, intangible |
Our view#
The growth loan is one of the most useful financings for a company wanting to develop without weighing down its guarantees or committing the owner's estate. Its value is not to replace the bank loan, but to complement it, financing the intangible part and preserving borrowing capacity.
Our approach is to combine the growth loan with a classic bank loan and, where relevant, a Bpifrance guarantee, in a coherent financing plan. The absence of a personal surety is a strong argument for the owner. Like any financing, it requires a solid project and a demonstrated repayment capacity: the growth loan supports a credible development, it does not save a fragile company.
A common case#
An SME wanted to finance a development plan combining recruitment, prospecting and communication, but its bank, for lack of a guarantee on these intangible expenses, limited its support. The growth loan financed the intangible part with no guarantee or personal surety, alongside the bank loan that financed the equipment. The repayment deferral eased cash while the plan produced its effects. The owner preserved their personal estate, not having to stand surety.
Frequently asked questions
What is the Bpifrance growth loan?+
It is a loan that finances tangible and above all intangible investments linked to a development project, with no guarantee or personal surety. It generally combines with a classic bank loan.
What amounts can you obtain?+
The standard growth loan ranges from 10,000 to 300,000 euros. The transmission growth loan, dedicated to company buyout, can reach 5 million euros, over 3 to 7 years with a repayment deferral.
Is a personal surety required?+
No. The growth loan is granted with no guarantee on the assets and no personal surety from the owner, which protects their personal estate, unlike a classic bank loan often secured by a surety.
What exactly does it finance?+
Development investments, tangible and above all intangible: recruitment, training, prospecting new markets, communication, compliance. It is precisely what classic banks finance poorly.
Does the growth loan replace the bank loan?+
No, it complements it. It finances the intangible part and preserves borrowing capacity, while the bank loan finances the equipment. The two combine in a coherent financing plan.
Is there a repayment deferral?+
Yes for some variants, notably the transmission growth loan, with a capital repayment deferral of up to 2 years, which eases cash while the operation produces its effects.
Key takeaways#
- The growth loan finances development investments, tangible and above all intangible.
- It is granted with no guarantee or personal surety, which protects the owner's estate.
- The standard growth loan ranges from 10,000 to 300,000 euros.
- The transmission growth loan, for buyouts, reaches 5 million euros over 3 to 7 years with a deferral.
- It complements the classic bank loan, it does not replace it.
- It requires a solid project and a demonstrated repayment capacity.
Article written by the Hayot Expertise firm, registered with the Order of Chartered Accountants of Ile-de-France. Updated for 2026. This article is for information purposes and does not replace an analysis of your own situation.
Article written by Samuel HAYOT
Chartered Accountant, registered with the Institute of Chartered Accountants.
Regulated French accounting and audit firm based in Paris 8, built to support companies across France with a digital and decision-oriented approach.
Sources
Official and operational sources cited for this page.
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