One financed business project: a Carrefour City

For now, the beneficiaries are not rushing. A year and a half after the announcement of the Île-de-France region of this investment, only a contractor took advantage of this device and mount his business. This is Mickaël Palizzotto who lives in Noisy-le-Grand. His project? A convenience store that opened in Bonneuil-Sur-Marne, Val-de-Marne, 25 minutes drive from home.

But not any store: Carrefour City, the shop sign of a downtown group of the same name. It is at the crossroads of advice Mickaël Palizzotto contacted Partners Impact. The entrepreneur knows the group. He was already managing a Carrefour City in the fifteenth arrondissement of Paris for just over three years.

Interest rate of 6 to 8% for the loan from the fund to pay over two years

So it is with Partners Impact that Mickaël Palizzotto obtained a loan of EUR 80 000. A sum that allowed him to win a credit of 244,000 euros to BNP Paribas bank. “First I have to repay the loan from the bank and after six years to repay the loan of EUR 80 000,” said the entrepreneur close to the quarantine. Interest rates on loans are relatively high, between 6% and 8% higher than those charged by the bank. After six years, the entrepreneur has only two years to repay Impact Partners.

“The Partners Impact loan is a significant rate. It will take my business to be profitable by the end of the repayment of bank credit and then repay achieve “analyzes Nicolas de Oliveira, 34 year old entrepreneur. “Hence the importance of having a good personal contribution to have less to borrow,” he says. This inhabitant of Viry-Châtillon, Technical control in a garage, plans to open a franchise trade Speedy Les Ulis in the Essonne. “No Impact Partners and financial support, Speedy would not agree to engage with me,” concedes one that should see its current project born in 2018.

No requirement in hiring for companies financed by the Fund

For the moment, investment in the region has only led to five contracts, those of employees of the Carrefour City opened in late September by Mickaël Palizzotto. Three contracts, full-time, already existed. The contractor has taken its own employees, from the Val-de-Marne, Carrefour City that ran in the fifteenth arrondissement of Paris. “These are employees that I know in whom I trust completely,” he says. Two part-time employees complete the team, two neighborhood girls. The right-wing majority has set numerical targets such as financial and human support “of about 130 entrepreneurs projects from priority neighborhoods” with the ambition to create “more than 750 permanent jobs.” Simply because of political objectives in practice against no-party is imposed on the fund management company, Impact Partners. “I do not have specifications to respect in terms of employment, recognizes Mickaël Palizzotto. Partners Impact looks only sales and financial aspects “. A statement confirmed by the Impact Partners responsible: entrepreneurs helped by the fund Impact Creation have no obligation in terms of hiring.

It is this lack of control over the social impact fueling fears the side of the opposition MPs of the Île-de-France region. “We are opposed to this approach to social policy that introduces a logic of profitability. We would prefer that the non-profit area or associations manage money, denounced the president of the Left Front elected in the region, Celine Malaisé. Franchisors nationwide rather known for developing precarious work associated with the project, “says Regional Councilor. “We tried to expand the device to players in the social economy and that are taken into account the public service relay issues. But our amendments were rejected, “recalls the socialist Stephanie Veneziano.

The President of the Europe Ecology-Greens Regional Council, Mounir Satouri had desired, as part of an amendment tabled in July 2016, that the intervention of the fund is done “excluding fast food chains stores existing. ” The reason? “It does not seem appropriate to subsidize large multinational firms that are freed from both the compliance with social and environmental standards,” he explained. His amendment was rejected.

“We have no evidence on the implementation of the fund”

Most Republicans see things differently. “The region has preferred allocate funds management to people whose job it is” justifies Isabelle Perdereau elected LR. “Impact Partners has managed social purpose funds and knows the Ile ecosystem,” said the president of the commission “Economic development and innovation.” The vice president of the region, Jérôme Chartier (LR) had already defended this choice during the debates in Standing Committee in December 2016. “We are in the culture of performance. We want results from public money. It is our vision, “he said at the time.

“To date, we have no evidence on the implementation of this fund. We want to have a clear and objective presentation of the actions in the area of the neighborhoods. Things are very cute, it is hard to follow, “laments Stephanie Veneziano. However, the investment company is accountable to its subscribers that the region belongs. Quarterly documents, specifying the amounts disbursed, but must be passed by the elected contacted, the elements are struggling to reach them. They all denounce the lack of information on the status of the fund. According to the report of December 2016 region, “the region is necessarily represented in the Investment Committee is expected. In the absence of such a committee, the Region must be informed quarterly of the progress of operations and folders set up on its territory e. “Still, the text says nothing specific on the communication on this fund to all elected officials.

Impact Creation must have a life of ten years, after which economic performance will be closely scrutinized above all, the social impact and the impact on employment in priority neighborhoods, the initial goal of Valérie Pécresse.