The Intesa Sanpaolo Group adhered to the agreement signed on 28 July between the Ministry of Economic Development, the Italian Banking Association and Cassa Depositi e Prestiti, which governs the granting of subsidized loans for the creation and development of companies operating in the non-profit world.
The strong point for joining the Convention was the consolidated experience of Banca Prossima, the Intesa Sanpaolo bank specializing in the Third Sector, in developing a system for assessing non-profit entities for admission to credit.
Mediocredito Italiano, the Group bank specializing in subsidized credit, has adhered to the Agreement for the granting of loans for investments envisaged as part of the subsidies to Third Sector businesses for the dissemination and strengthening of the social economy, valid on the Revolving fund to support research investments managed by CDP.
The Fund has a budget of 223 million euros, of which 200 million euros for the granting of subsidized loans and 23 million euros for the granting of grants. To access the subsidy, companies in the Third Sector must have received a positive evaluation from one of the member banks regarding the economic and financial sustainability and socio-environmental impact of the project.
The Bank supports the projects of social enterprises, social cooperatives and non-profit cooperative societies for amounts between a minimum of 200.000 euros and a maximum of 10 million euros. The bank loan and the subsidized loan are governed by a single contract, and finance a maximum amount of 80% of the project, of which 30% in bank financing, at market rate and 70% in subsidized loan at a fixed rate 0,50 .20% per annum. The remaining XNUMX% of the project is contributed by the applicant with its own resources.
The convergence of activities between Banca Prossima and Mediocredito Italiano represents a particularly virtuous synergy for the management of applications for subsidies under the agreement. Banca Prossima, the Intesa Sanpaolo bank dedicated to non-profits, is the catalyst for requests and responsible for assessing the socio-environmental impact of projects, while Mediocredito Italiano, as the group's specialized company for subsidized credit, manages the loans.
