The issue of late payments by the Public Administration (PA) is one of the causes of the financial difficulty situation that many businesses are going through, especially medium-small ones. To limit the negative effects of these delays, the SACE group and the Building Entrepreneurs Board of Confapi Modena have signed a collaboration agreement to allow Confapi's associated companies to access the factoring services of SACE Fct with favorable conditions.
SACE Fct, is the factoring company of the SACE Group, created with the aim of "contributing to the regularization of commercial relations between suppliers and the Public Administration and to the progressive reduction of payment times, allowing companies to plan the dynamics of financial flows with certainty according to business needs".
The agreement provides for the creation and launch of a series of initiatives aimed at helping companies in choosing the most suitable solution for their liquidity needs through operations for the divestment of credits, in the form of without recourse or with recourse, claimed from the customers and in particular towards the PA.
The General Manager of SACE Fct, Federico Mongelli, declared that: “The agreement represents another important step for SACE Fct in support of the Italian economic system and strengthens our commitment in a sector, such as construction, which is particularly affected by the current situation characterized by significant delays in PA payments”. Mongelli also underlined how the collaboration with a reality such as that of the Building Entrepreneurs College of Modena consolidates SACE's closeness to the entrepreneurial fabric, allowing it to capture the needs of companies, especially SMEs, directly in the area in which they operate.
Great satisfaction was also expressed by the President of the Building Board, Vitaliano Turchi according to whom the agreement between the Building Board and SACE Fct represents an important financial lung for our companies. However, President Turchi raised the critical issues regarding the payment times of the PA which "are such as to seriously endanger the financial balance of the supplier companies".
The press release is available at this address
