Intesa Sanpaolo has reserved a ceiling from two billion euros to companies and associated professionals a Confcommercio. The bank communicated this in a note, specifying that the goal is to help companies guarantee production continuity despite the slowdown in demand (domestic and foreign) caused by the coronavirus pandemic. The funds will be used to manage urgent payments and immediate liquidity needs.
“In this phase of full economic emergency there is a need above all for immediate liquidity – he commented Charles Sangalli, president of Confcommercio-Imprese for Italy – and to facilitate as much as possible the bureaucratic procedures for accessing credit for micro, small and medium-sized enterprises in the service sector market. This is to ensure that all companies that have suspended their business have the opportunity to restart as soon as possible. The 2 billion euro plafond reserved by Intesa Sanpaolo for Confcommercio members is a concrete and tangible aid that goes precisely in this direction”.
Stephen Barrese, head of Banca dei Territori of Intesa Sanpaolo, underlined that “today's initiative allows us to make a further and immediate support tool available to companies associated with Confcommercio. It is a demonstration of trust on the part of Intesa Sanpaolo in an entrepreneurial fabric endowed with the resilience necessary to face the extraordinary contingent difficulties, with the aim of overcoming the emergency and thus being able to face the recovery phase that will follow".
To combat the coronavirus Covid19 emergency, Intesa Sanpaolo has already announced new credit lines from 5 billion for companies from all over the country, plus others 10 billion euros of liquidity for the Bank's customers, thanks to loans already approved in their favor and now made available for broader and more flexible objectives, starting, once again, with the management of urgent payments.
