The SACE insurance-financial group and the Banco Popolare Group have finalized a new agreement which will allow for the disbursement of 25 million euros in short-term loans for (small-medium sized) companies that have formalized contracts with foreign countries.
Specifically, this agreement will allow companies with a turnover of up to 250 million euros, at least 10% of which is generated abroad, to apply directly to one of the almost 2.000 branches of the Banco Popolare Group for short-term loans to finance capital needs working capital and "any other cost directly attributable to the execution of the order abroad".
The loans will have a duration of between 6 and 15 months, will be guaranteed by SACE up to 70% and will have an amount between 100.000 and 2,5 million euros.
With this agreement, the ceiling on loans for internationalization activities made available to Italian companies through the partnership between SACE and the Banco Popolare Group grows to 225 million euro.
