The commitment of the Generali group to restart the Italian economy continues. The latest news concerns Banca Generali, which is making 40 million euros available to SMEs in Piedmont and Valle d'Aosta, through the new “Italianonsiferma” securitization managed by Credimi, the European leader in digital business finance. The initiative was made possible thanks to the intervention as "Anchor Investor" by Fondazione CRT through Fondazione Sviluppo e Crescita and by Finpiemonte which, by subscribing the junior tranche equal to 10% of the issue, make it possible to raise a total of 40 million, ensuring a additional level of protection for the capital of professional savers involved by Banca Generali.
In fact, the 90% guarantee from the public guarantee fund is joined by a further 10% coverage from the two local institutions: Fondazione CRT and Finpiemonte. Furthermore, the intervention of the CRT Foundation and Finpiemonte allows the containment of the interest applied to loans and generates a multiplier effect in the disbursement of loans in a ratio of 1 to 10 (for each euro allocated by the two Piedmontese institutions, an additional 9 euros received from qualified savers who can count on the full capital guarantee). The joint effort of Banca Generali, Credimi, the CRT Foundation and Finpiemonte has therefore made it possible to carry out, for the first time in Italy, an operation that brings in household savings to support SMEs in a specific area.
In just a few weeks, this operation will bring 40 million euros in loans to those companies that are struggling to access traditional financing channels. Loan repayments will start from the end of 2021 for the next 4 years. The companies that will be able to access these funds must have fewer than 500 employees, a turnover of over 100.000 euros, be joint stock companies (SPA, SRL) with at least one deposited balance sheet or partnerships (SAS and SNC) with at least one tax return . The procedure is completely digital. The maximum limit that can be requested is equal to 25% of one's turnover: the loans granted will have an amount between 30.000 and 750.000 euros.
“After the health emergency – commented the CEO of Banca Generali Gian Maria Mossa – the effects of the crisis risk bringing the corporate fabric to its knees and for this reason we have launched an ambitious project to bring private savings closer to the real economy. This new issue managed with Credimi sees at our side the precious contribution of Finpiemonte and the CRT Foundation who have chosen to support the territory through the subscription of the junior tranche of the operation which, in addition to the public guarantees, completes the protection for private investors who want seek new forms of decorrelation from market risks, concretely helping the recovery of the system".
