To support the cultural industry at a critical moment from the point of view of the availability of credit for businesses, Italian Mediocredito, a bank of the Intesa Sanpaolo Group specializing in financing for SMEs e SACE BT, a SACE group company specializing in credit insurance, sureties and construction risk protection, have finalized a support agreement for film and television producers.
The main objective of this agreement will be to facilitate access to credit for "producers of cinematographic and television audiovisual works” allowing the latter to issue a guarantee policy to the main customers (guarantee increasingly required in this sector).
In addition to this agreement, Intesa Sanpaolo, through Mediocredito Italiano, will be able to provide film industry operators with a complete service, ranging from cfinancial coverage of project costs for a specialist service dedicated, by the Media & Entertainment Desk, with particular attention to time lag between financial income and expenditure, typical of the sector, structuring the most suitable forms of financing.
Il General Manager di Italian Mediocredito, Charles Stocchetti, he said: “This agreement aims to strengthen our role as a specialist bank which has a leadership position in supporting the film sector. We continue to follow the path, undertaken for several years, which has allowed us to acquire particular skills in strategic sectors for our country. Being a partner of SACE BT means making 360-degree assistance and consultancy services available to entrepreneurs in the film sector to concretely encourage and support the growth of their business and the country's economy”.
Claudius Andreanim, General Manager di SACE BT he underlined how: “Access to credit today is a crucial issue for business growth. In an adverse economic situation such as the current one, we believe that this synergy with Mediocredito Italiano can significantly facilitate the disbursement of loans, making an integrated package of services available to companies and enabling sustainable planning of growth projects. We are very pleased to be part of this initiative, which confirms and strengthens SACE BT's support for a sector that has not only economic, but also cultural value for our country".
The complete press release is available at this address.
