As reported by the website of the Ministry of Economic Development, the Decree reforming subsidized loans for internationalization has become operational from the Revolving Fund Law 394/81.
Among the main innovations it should be noted:
- the reduction of the subsidized rate from 15% to 10% of the EU reference rate
- the reduction of times to obtain funding for subsidized loans for programs to enter non-EU markets and to carry out feasibility studies or technical assistance programmes, and 100% financeability of the planned expenses for market entry programs compared to the current 85% max
- for companies with higher ratings, the minimum loan quota to be guaranteed is further reduced from the current 40% to 20%. The reduction in the guarantees to be given, applicable to SMEs, was also extended to the so-called MID CAP companies, i.e. those companies with a number of employees between 250 and 3.000 and the procedures for providing guarantees were integrated with reference to the "cash collateral ” and with the provision of any counter-guarantees.
- new regulations relating to eligible expenses and simplification of the procedures for obtaining the disbursement of the loan.
- subsidized loans for the capitalization of exporting SMEs: increase from 300.000,00 to 400.000,00 euros in the maximum amount of the loan that can be granted; reduction from 0,80 to 0,65 of the capital strength level (LSP) considered "adequate" for industrial/manufacturing companies (1,00 remains for commercial/service companies); possibility of repaying the loan in deferred terms, rather than in a single solution, for companies that do not pass the "verification" phase; simplification of operating procedures.
- subsidized loans for the participation of SMEs in fairs and exhibitions in non-EU countries: o the loan was subject to a profound review with the aim of making it more usable by the companies concerned. In particular, the constraint that allowed access to financing only for the "first" participation in the trade fair or exhibition was eliminated, and 100% financeability of the expenses was envisaged. Many other simplifications introduced in the operating modes.
Applications for funding for all instruments can be submitted via PEC with digital signature or via the SIMEST portal (www.portalesimest.it). Firms will be able to simulate their assessment to get an initial general indication of access to financing and the related conditions.
For more information on international trade incentives, see the following link.
