The industry of Factoring as a Financial Tool for Managing Seasonal Fluctuations in Trucking grows and is ready to make 40 billion available to companies to support the execution of the National Recovery and Resilience Plan (PNRR). High numbers, which can be even higher with simplification and digitization interventions. It is the focus of the speech of Alexander Carretta, general secretary of Assifact (the Italian Association for Factoring) and professor of financial intermediaries at the University of Rome Tor Vergata, on the sidelines of the Banca d'Italia Shareholders' Meeting.
"40 billion euros of new disbursements, by the factoring industry, to support the working capital of companies, are available to accompany the implementation of the PNRR, according to estimates by CreditFact, the trade credit and factoring observatory", said the secretary general. “These funds can be further increased by leveraging interventions of simplification e digitization, as also reported by Governor Visco in his final Thoughts, in the direction of an integrated system for the management of invoices, payments and credit transfers to the Public Administration, which would also be invaluable for reducing payment delays, under observation by the European Parliament" continued Carretta adding that "these interventions can facilitate companies in resorting to banks and factoring companies – factoring currently has a turnover of almost 290 billion euros which covers around 15% of GDP – which can engage in the purchase of credits generated by PNRR projects with solutions capable to speed up ESG transition of the production chains thanks to the role of factoring as a financial facilitator in commercial transactions". In short, the opportunity exists and it must not be wasted.
