Intesa Sanpaolo announces ad hoc financing for one billion euro intended for micro, small and medium-sized enterprises struggling with the economic crisis triggered by the Covid-19 emergency. The operation will be carried out through portfolios with the "Tranched Cover Covid-19" Guarantee Fund, an instrument which, using the rules established by the Liquidity decree, will allow companies to access, through the public guarantee, loans for 1 billion euros .
“Intesa Sanpaolo is the first bank in Italy to have obtained admission to the guarantee from the Fund two portfolios of loans worth 500 million euros to be disbursed by 30 November 2021 ”, underlines the bank led by Carlo Messina in a note.
The portfolios will have a total duration of 72 months with prospects of reimbursement after 24 months from disbursement. The resources provided will be used to support companies damaged by the restrictive measures of the lockdown in the immediate liquidity needs and in long-term investments, counting on significant pre-amortization periods. In detail, at least 20% of the loans will be reserved for companies characterized by a higher risk profile with a rating lower than BB according to the Standard & Poor's rating scale.
Intesa also highlights that, at the beginning of July, it reached its quota 144 thousand loans up to 30 thousand euros, all of which have already been disbursed, for a total amount of 2,8 billion in credit, while around 30 files have been disbursed for loans over 10 thousand euros for around 6 billion. Furthermore, with Sace's “Garanzia Italia” Intesa finalized around 40 transactions and disbursed around 7 billion in loans to SMEs and Mid Caps, guaranteed by SACE and counter-guaranteed by the State, throughout the country.
Anna Roscio, Intesa Sanpaolo Bank of Territori Business Sales & Marketing Manager: “We address a total of one million enterprises and micro-enterprises our customers, of which about 250 SMEs and Mid Caps, with the aim of providing them with all the tools for immediate liquidity needs and to accelerate their recovery after the shock of recent months. Today's initiative joins the various credit support measures activated by Intesa Sanpaolo in recent months and with the Liquidity Decree and specifically the two portfolios of 500 million each following the 4 tranched cover loan portfolios of 1,2 billion euros already fully activated since 2018”.
