Intesa Sanpaolo and Confcommercio renew their commitment to facilitating access to credit for the world of micro-enterprises and SMEs thanks to an agreement for the creation of an initial portfolio of 100 million euros active by July dedicated to members of Confcommercio and local Confidi. The new collaboration was signed on Saturday 23 March at the Confcommercio Forum in Cernobbio by Carlo Sangalli, president of Confcommercio and Stefano Barrese, head of the Banca dei Territori Division of Intesa Sanpaolo with the aim of facilitating the granting of credit for Confcommercio members through the establishment of a guarantee on a portfolio of newly disbursed loans (Tranched Cover).
The portfolio worth 100 million euro, with loans lasting from 18 to 60 months and an additional grace period of 18 months, is part of the broadest range of loans made available by the Bank as part of the collaboration with Confcommercio. This operation will allow you to invest financial resources to support trade, tourism and services, supporting investments for growth, technological adaptation and innovation with the aim of facilitating access to credit in particular for smaller companies and therefore structurally weaker from a financial point of view.
Carlo Sangalli, president of Confcommercio-Imprese for Italya, states: “In a phase of ongoing difficulties for businesses, the initiative presented this morning aims to encourage the creation of tools to support SMEs in accessing credit and, in particular, entrepreneurial activities in the tertiary market. In order to grow trade, tourism and services, in fact, they need to be supported in investments, innovation and liquidity needs. And today we are therefore embarking on a path that also underlines the importance of trusts and enhances their role".
Stefano Barrese, head of Banca dei Territori of Intesa Sanpaolo, declares: “Today's initiative confirms the desire to strengthen our commitment as a bank in guaranteeing concrete support to the entrepreneurial fabric of the country. In fact, in 2018 we disbursed 18 billion in medium and long-term credit to SMEs and we want to continue supporting companies so that they continue along the path of investment and innovation. Small trade businesses, in particular, represent in our country the network through which a large part of the economy moves and, for this reason, we want to give a sign of confidence so that companies, despite the difficulties of the period, invest in the future to become more and more competitive on the market and our Group wants to accompany them along this path".
