90 million euros for access to credit for micro, small and medium-sized enterprises for innovation, research and development.
The press conference was held this morning at Villa Fagan in Florence during which the important agreement was signed between Banca di Cambiano and the European Investment Fund (EIF), in the context of the InnovFin project, of the Horizon 2020 Programme, the European structural program dedicated to facilitating access to credit for companies dedicated to innovation and research.
Arrived specially from Brussels, Alessandro Tappi, Director of the EIF and head of guarantees and microcredit and Paul Samsonoff, Senior Structured Finance Manager and head of the InnoVFIN project at the EIF, signed for the European Investment Fund (EIF).
On the basis of the agreement, the Banca di Cambiano, the only one in Tuscany and one of the very few in Italy to which this opportunity has been granted, will coordinate the Cooperative Credit Banks of Castagneto Carducci, the Cooperative Credit Bank of Pisa and Fornacette and the Banca di Viterbo, present for the signing with their respective Presidents and General Managers, as well as the President Paolo Regini and the General Manager Francesco Bosio for Banca di Cambiano and Luigi Furore, Principal of IC Satellite, the advisory company that provided consultancy .
The agreement, it has been illustrated, provides for the EIF guarantee for loans to innovative companies, including those that currently have greater difficulty in finding resources because they often deal with complex products and technologies, experimental markets and intangible assets, i.e. small and medium-sized enterprises (SMEs) and Small MidCaps, with a high density of innovation, with research and development programs, start-ups and rapidly growing micro-enterprises.
The guarantee agreement will make it possible to disburse a total of 90 million euros. InnovFin loans can be short, medium and long-term, issued for investments already made, to be made and working capital, and will be granted on advantageous terms, with spreads starting from 1,90%, with the cost of the guarantee paid of the bank. The duration of the loans will be a maximum of 10 years and the amount up to 4 million euros for each company.
EIF Chief Executive Officer Pier Luigi Gilibert sent a statement: “It is with great satisfaction that I announce this InnovFin guarantee agreement with Banca di Cambiano in support of innovative businesses in Italy. With this network and in particular with the coordinating bank, I am sure that many more companies will be able to access this European financial structure".
Alessandro Tappi and Paul Samsonoff reiterated that the European Investment Fund's main mission is to support micro, small and medium-sized enterprises, to facilitate their access to credit aimed at the development of innovation, research and business development, to foster growth and jobs in Europe.
In conclusion, the Chairman Paolo Regini and the General Manager Francesco Bosio commented on the importance of the agreement for Banca di Cambiano and for the others that signed it, declaring: "The guarantee agreement is particularly important for strengthening the financial structure of small and medium enterprises, a market segment to which our bank has always been very close. The continuous changes in the economic structure and the markets require investments in research and innovation in both processes and products. Businesses often find it difficult to sustain growth and maintain it over time. With the support of the EIF guarantee and the strong local presence of our bank, together with that of the other participants, we believe we have precise and flexible tools that will facilitate the objective, through a vast range of potential uses, in support of the growth of future market leaders in our area”.
