PACT'Restructuration: 90% Grant up to 2.4M MAD for Corporate Turnaround
Official guide to PACT'Restructuration by Maroc PME (PACTE TPME 2026): 90% public co-financing for corporate turnaround engineering up to 2.4M MAD.
PACT'Restructuration is an exceptional public support mechanism managed by Maroc PME under the PACTE TPME framework (2026-2030) dedicated to Moroccan SMEs experiencing operational or financial distress. It provides a non-repayable technical advisory grant covering 90% of turnaround consulting fees up to 2,400,000 MAD (2.4M MAD) per beneficiary. Critical legal boundary: This grant strictly covers accredited turnaround expert fees and is NOT a bank loan, NOT a debt bailout, and NOT a direct cash payment.
What is PACT'Restructuration?
PACT'Restructuration is the Moroccan government's dedicated rescue mechanism to safeguard viable companies suffering from severe cash shortages, operational disruption, or market contraction that endanger their continuity and workforce.
By covering 90% of certified turnaround consulting fees, Maroc PME enables business owners to produce an independent, audited turnaround blueprint used to negotiate consensual debt moratoriums with creditors and restore sustainable operating margins.
Official Eligibility Criteria for PACT'Restructuration
Mandatory criteria specified by Maroc PME include:
- ✅ Commercial legal entities incorporated under Moroccan law (SARL, SA, SAS), processing cooperatives, and early-stage ventures (< 1 year).
- ✅ Annual turnover excluding VAT not exceeding 200 million MAD for the last closed financial year, or projected annual turnover ≤ 200M MAD over the first 3 years for early-stage projects.
- ✅ Operating companies or new ventures exhibiting verifiable operational or financial strain with salvageable fundamentals.
- ✅ Companies that are not more than 50% owned by a parent group with consolidated revenue over 200M MAD.
Excluded Profiles & Restrictions
- ⚠️ Auto-entrepreneurs and sole proprietorships without distinct corporate legal personality.
- ⚠️ Companies with actual or projected annual turnover exceeding 200M MAD.
- ⚠️ Companies subject to an irreversible judicial liquidation order without continuation prospects.
- ⚠️ Applications seeking direct working capital injections or debt settlements (grant funds advisory only).
Eligible Advisory Scope and Exclusions
✅ Eligible Services (Advisory)
- Independent financial audit, 13-week rolling cash flow forecasting, and solvency diagnosis.
- Design of the operational, industrial, and organizational turnaround blueprint.
- Technical mediation and support during bank debt rescheduling negotiations with creditors.
- Operational deployment oversight and monitoring of turnaround key performance indicators.
- Industrial layout restructuring and crisis supply chain realignment.
❌ Excluded Expenses (Non-Eligible)
- Direct cash loans or liquidity injections into company accounts.
- Settlement of outstanding tax, social security (CNSS), or bank loan liabilities.
- Capital expenditure (CAPEX) such as equipment purchase or facility construction.
PACT'Restructuration Grant Simulator (90% up to 2.4M MAD)
Simulate the 90% co-financing grant and the indicative company remaining share in real time.
Educational Scenarios (Calculated Examples)
Scenario 1: Logistics SME (300,000 MAD Turnaround Advisory Mission)
Company experiencing acute cash strain requiring an urgent financial stabilization blueprint.
Scenario 2: Industrial Manufacturing SME (3,000,000 MAD Heavy Restructuring Program)
Large-scale financial and operational turnaround mandate exceeding the statutory ceiling.
A new loan is not always the first answer for a business under pressure
Initial Situation: A recurring advisory situation: a company has real operations and customers, but faces cash-flow pressure, margin erosion, accumulated obligations, or an operating model that is no longer performing efficiently.
Mokawala Intervention: Before seeking additional financing, we break down the situation: which activities create value, where cash is being consumed, what can be repaired operationally, and whether the appropriate path involves repositioning, financial restructuring, or bringing in a partner.
The advisory objective is to build a clear and executable restructuring logic before adding another financial obligation to the company.
Restructuring starts with diagnosis and difficult choices, not with another loan.
🛡️ Composite case based on real advisory files handled by the firm, with details modified to preserve confidentiality.
Comprehensive Turnaround Financial Structure (Funding Stack)
PACT'Restructuration covers 90% of turnaround advisory fees. Here is how the complete restructuring funding stack is engineered in practice:
Public grant funding 90% of certified consulting and financial restructuring engineering fees.
Non-repayable public technical advisory grantMinimal equity co-payment covering the remaining 10% of certified advisory and engineering fees.
Company equity / Partner current accountsConsensual renegotiation with banking partners to reschedule liabilities based on the audited turnaround plan.
Banking partners / Tamwilcom Restructuring GuaranteesAccounts receivable collection acceleration, inventory rationalization, and operational cash protection.
Internal working capital optimization / Refinanced credit facilitiesApplication Process & Preparation
🏛️ Official Administrative Procedure
Applications are submitted exclusively through the official digital portal candidatures.marocpme.gov.ma. Technical evaluation boards examine turnaround viability, approve consulting terms of reference, and execute the 90% co-financing grant agreement.
📋 Recommended Preparation Steps
- 🔹 Perform a comprehensive internal audit of outstanding liabilities and debt maturity schedules.
- 🔹 Define precise terms of reference for the turnaround advisory mandate.
- 🔹 Obtain detailed quotes and methodologies from accredited crisis management consulting firms.
- 🔹 Compile certified financial statements and tax declarations for the past 3 fiscal years.
- 🔹 Maintain standard professional confidentiality during restructuring preparation.
Required Administrative & Technical Documentation
Documentation checklist in accordance with Maroc PME guidelines:
- 📄 Recent Commercial Register extract (Modèle J) and corporate articles of association.
- 📄 Certified financial statements (bilans fiscaux) for the last 3 closed financial years.
- 📄 Certificates of fiscal compliance and social security regularity (CNSS).
- 📄 Confidential executive memorandum outlining current distress causes and recovery potential.
- 📄 Terms of Reference for the turnaround advisory engagement.
- 📄 Technical and commercial proposals submitted by certified restructuring consulting firms.
Key Vigilance Points and Rejection Risks
⚠️ Statutory rejection criteria:
- • Exceeding statutory turnover limit (annual revenue above 200M MAD).
- • Final judicial liquidation ruling without legal possibility of continuation.
- • Ineligible legal status (auto-entrepreneur or sole individual proprietorship).
⚠️ Operational pitfalls:
- • Mistakenly assuming the grant provides direct cash handouts to cover payroll or supplier debt.
- • Waiting until bank accounts are frozen or court enforcement is initiated before applying.
- • Submitting proposals from consulting firms without proven turnaround track records.
“Adil Miftah's view: Early intervention is the boundary between successful turnaround and forced liquidation. Maroc PME's 90% co-financing is unprecedented, but businesses must mobilize before irrevocable creditor enforcement begins.”
“Always remember that PACT'Restructuration provides no direct cash bailout. It funds 90% of elite turnaround consultants to draft an audited recovery plan accepted by banking pools.”
Complementary Ecosystem Support Mechanisms
🔄 Tamwilcom Restructuring Guarantees
Sovereign guarantee backing for bank debt rescheduling.
🔄 PACT'Performance
For productivity and digital transformation in stable operating phases (1M MAD).
🔄 PACT'Scale Up
For post-turnaround business acceleration and strategic scale-up (2M MAD).
Frequently Asked Questions (FAQ)
Does PACT'Restructuration offer direct cash or working capital loans?
No. The programme strictly finances 90% of accredited consulting and turnaround engineering fees (up to 2.4M MAD). It provides no direct cash loans and does not pay off debts.
What is the public grant rate and ceiling?
The grant rate is 90% of eligible advisory expenditures, capped at a maximum of 2,400,000 MAD (2.4M MAD) per company.
Can early-stage or newly created companies apply?
Yes. Maroc PME's current official portal explicitly includes early-stage ventures under one year old, provided they demonstrate projected annual turnover not exceeding 200M MAD during the first 3 years.
How does the turnaround plan facilitate bank debt negotiations?
An audited recovery plan approved by Maroc PME provides institutional credibility to banks, enabling constructive debt standstill agreements and multi-year rescheduling.
Structure your PACT'Restructuration Dossier
Get strategic guidance on terms of reference and eligibility audit before formal submission.