Cassa Depositi e Prestiti and the Association of Private Social Security Entities (AdEPP) today signed a memorandum of understanding to facilitate the granting of loans to a potential audience of around 1,6 million professionals enrolled in funds and social security institutions.
Thanks to the partnership between AdEPP and CDP, professionals will in fact be able to benefit from an increase in the guarantee percentage from the Guarantee Fund for small and medium-sized enterprises (SME Fund) with a potential advantage in terms of: reduction of the interest rate applied to loans granted; obtaining larger loans; reduction in credit granting times by lenders and absence of requests for real guarantees for the portion covered by the SME Fund.
Regardless of the rating class of the final beneficiaries and the characteristics of the financial transaction, guarantee requests on loans to professionals presented by banks and Confidi will receive coverage from the PMI Fund respectively equal to 80% and 90%, making access to credit easier and on more advantageous terms.
To get the benefit, the professionist enrolled in one of the social security institutions participating in the initiative may turn to financial intermediaries located throughout the national territory authorized to operate with the PMI Fund. The Funds and Social Security Institutions associated with AdEPP are the first subjects to activate the new intervention scheme to strengthen the action of the PMI Fund, through CDP.
CDP is structuring similar initiatives in favor of other categories of companies and beneficiaries. The operation will be activated in two different ways, which are complementary to each other:
- "Loan-by-loan" operations: the Funds and Social Security Institutions adhering to the AdEPP will be able to confer resources to CDP to increase the guarantee percentage granted by the PMI Fund on loans, up to 80% for direct guarantee transactions (presented by banks) and 90% for reinsurance operations (presented by Confidi).
- Portfolio operations: the Funds and Social Security Institutions adhering to the AdEPP will be able to contribute resources to the PMI Fund through CDP, in order to increase the percentage share of the first loss covered by the PMI Fund on loans to professionals in portfolio guarantee transactions.
“Thanks to the collaboration with AdEPP – he commented Fabrizio Palermo, Chief Executive Officer of CDP, we have activated a systemically important initiative capable of optimizing the effectiveness of the interventions of the Guarantee Fund for SMEs in favor of professionals. With the agreement signed today, CDP strengthens the tools to support access to credit for previously unserved professional categories and extends its skills to serve the country".
