Iccrea BancaImpresa, i.e. the corporate bank for the development of business customers of the Italian Cooperative Credit Banks and Casse Rurali, and SACE, have signed the renewal of the Framework Agreement of 21 April 2011 which will allow the disbursement €75 million in new financing, 70% guaranteed, for internationalization projects of SMEs.
The Agreement will allow small and medium-sized businesses that are customers of the Bccs to request unsecured loansia variable maturities between 36 and 96 months on which there will be one Sace guarantee issued at market conditions. These loans will be used to finance investment projects, carried out both in Italy and abroad, and aimed at increasing market shares and controlling international markets. The transactions that can be financed are the same as in other agreements between banking institutions and Sace (cf. Sace and Banca Carige: 20 million for internationalisation) and generally include all activities for the purchase or redevelopment of plants and structures, the promotion of products and the expansion of commercial networks.
This agreement is part of a collaboration between Iccrea BancaImpresa and Sace, which has been active for some time and represents a "support tool for those companies that aspire to increase their competitiveness abroad". The partnership makes it possible to merge the widespread presence of the mutual banks in Italy with Sace's experience and expertise in the insurance sector
Further details on the agreement and on the tools made available by the understanding are available on the website Sace and on portal of the Iccrea Banking Group for internationalization and relations with foreign countries.
