From 10 to 15 years. It is prolonged from time to time the maturity of loans guaranteed 100% by the state, those reserved for activities damaged by Covid and with a maximum ceiling of 30mila euros for each delivery. The change was approved by Parliament with a provision included in the 2021 Budget Law. SMEs that have yet to apply for a loan will automatically benefit from the new deadline, while those that have obtained the credit in 2020 may ask to extend the loan term up to the maximum limit of 15 years.
The advantage is clear: with five more years of time, the installments to be paid to extinguish the debt will be significantly lower.
However, the extension also entails an interest rate adjustment, which goes from "no higher than the average rate of return on public securities (Rendistato) with a similar duration to the loan, increased by 0,20%" to a rate that "must not be higher than 0,20% increased by the value, if positive, of the average rate of return on public securities (Rendistato) with a duration similar to the loan".
In addition to SMEs natural persons who carry out business, arts or professions, professional associations and partnerships between professionals can also benefit from the 100% state guarantee. The only condition is that the business activity has been damaged by the pandemic: a requirement to be certified by self-certification.
This kind of loans must provide for that the repayment of the capital does not start before 24 months from the disbursement. The requested amount also cannot exceed 25% of turnover which results from the last balance sheet or from the last tax return.
According to the law, the public guarantee can only be issued on new loans and the money cannot be used to repay past debts.
