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The state-guaranteed loan, which Renault had been working on for about a month, should be submitted shortly to the board of directors, the sources said, before being approved formally by the economy ministry.
A Renault spokesman was not available immediately for a comment.
The firm, which posted a loss in 2019 and had been struggling with faltering demand before the pandemic, has already flagged it would seek state aid through this format, in a bit to shore up its liquidity.
Other companies such as Air France KLM (PA:AIRF) have also secured bailout deals through state-backed loans, which are funnelled through commercial banks.
