It is sometimes difficult for companies to obtain a bank loan due to the restrictive orientation of monetary policy. But the use of the has proven to be a good alternative Factoring as a Financial Tool for Managing Seasonal Fluctuations in Trucking. So, if on the one hand i Loans continued to decline, on the other hand factoring during 2023 showed that it was holding up, closing the year with a slightly higher turnover (+0,87%) than that of the previous year.
Secondo Assifact, the Factoring Association which brings together the 47 operators in the sector, the total amount last year it stood at € 290 billion, a value equal to approximately 15% of GDP. Positive signs also come from the outstanding, outstanding loans, which reached 70 billion euros, with an increase of 1,17% and advances/fees paid, equal to 58 billion euros, (+0,03%). “At the end of a difficult year, factoring is therefore confirmed as a decisive tool for managing the working capital of companies” says a note from the association.
It is the alternative to bank loans which have declined
The application for bank loans in 2023, however, it continued to weaken, also due to the rigidity of the supply criteria, consistently with the restrictive orientation of monetary policy. Bankitalia at the end of November it recorded a 4,8% drop over 12 months. The reduction was stronger for companies with fewer than 20 employees (-9,2%, compared to -4,4% for large companies). The decline, reported Bank of Italy, worsened in the construction sector and eased in the services sector, while it remained essentially unchanged in manufacturing.
Support for creditors of the Public Administration
Assifact also took the field in defense of companies that they boast credits towards the Public Administration and who risk being penalized by new rules on covering the deficit of the regions with ordinary statute. They provide for a settlement definition of the PA's commercial debts towards suppliers.
In particular, Regions with a per capita deficit of more than 31 euros as of 2021 December 1.500 are granted an annual contribution of 20 million euros for the years from 2024 to 2033. Regions must prepare a plan for detecting collectable commercial debts to 31 December 2023 and must notify the creditors, who must submit a request for admission to the plan within the indicated deadline, under penalty of automatic cancellation of their credit.
Having assessed the overall amount of all the debts included in the plan, the regions individually propose to the creditors the settlement of the credit, offering the payment of a variable amount between 40 and 80%, depending on the seniority of the credit. The procedure provides for the blocking of enforcement actions and the settlement provides for the waiver of any other claims. From the new rules, Assifact claims, “an emerging sacrifice borne by creditors (automatic cancellation of the credit, inadmissibility of enforcement actions already initiated, ineligibility of sums) not balanced by an equivalent protection system. Indeed, the creditor is asked to renounce a significant percentage of his credit. These provisions therefore appear seriously unfair for the creditors of the Public Administration and even objectionable from the point of view of constitutional legitimacy".
