Today BNL BNP Paribas Group and SACE signed an agreement which provides an additional 50 million euro credit line in short-term loans for Italian companies that decide to internationalise.
The conditions for accessing the loans provide that the applicant company's turnover must not exceed 250 million euros and that more than 10% of it is generated abroad. The loans, guaranteed up to 70% by SACE, will be for an amount between 50.000 and 2,5 million euros and with a duration of between 6 and 12 months. The operation has the purpose of improving the management of working capital and stimulating the propensity for new industrial investments held back by the current economic contingency.
The agreement signed today increases the total plafond of loans for internationalization to 250 million.
The head of BNL's Corporate Division, Paolo Alberto De Angelis declared that "The further development of the partnership with SACE represents the confirmation of the concrete commitment of BNL and the BNP Paribas Group alongside Italian entrepreneurs, to share and finance their ideas and projects. BNL, increasingly the reference bank of the real economy, thus continues to support, like a real partner, these many Italian manufacturing companies, capable of telling entrepreneurial stories of excellence and aiming at international markets, making themselves known for the quality of their products and services.”
Raoul Ascari, Chief Operating Officer of SACE, argues that “Inadequate credit is one of the most pressing issues to be resolved in order to allow companies to return to a growth path and requires concerted response actions between several parties. Today's agreement strengthens SACE's collaboration with the Italian banking system, a positive experience that allows us to support development projects for an increasingly large pool of SMEs. It is precisely this segment, most exposed to economic difficulties, that we are paying particular attention to today, with a series of initiatives designed to make SACE's insurance-financial offer more flexible and accessible, so that it can become an ally in dealing with a crisis to last much longer."
The complete press release also refers to two further projects in support of Italian entrepreneurship, "With You Across Europe and Beyond" by BNL and "PMI NO-STOPby SACE.
