Territorial bonds land in Turin. This is a ceiling of 10 million euros which will be used to finance the projects of local businesses, also thanks to the resources invested by savers. The agreement was signed by the Industrial Union and the API of the Piedmontese capital, together with Unionfidi and Banca Sella. The Turin Bonds can be subscribed by 31 July with a minimum of one thousand euros.
In detail, the Biella bank will put 5 million euros on the plate and issue a bond loan for another 5 million, which can be subscribed by savers.
With the Turin bonds, companies associated with Unione Industriale, Api and Unionfidi will be able to apply for medium and long-term loans which, under favorable conditions and with the guarantee of Unionfidi, can be at a fixed or variable rate for a maximum amount of 1 million euros or in any case equal to 80% of the project to be financed.
The goal is to improve the competitiveness of local businesses, create employment and support the internationalization and development of business processes.
Initiatives of this type are nothing new in Piedmont. Here Caar – a company active in the automotive, aerospace and railways sectors – was the first SME to make its debut, on 10 July last year, with the issue of a minibond. Less than a year later, Caar's revenues grew more than XNUMX%.
