Today, an agreement was reached between Sace and the Intesa Sanpaolo Group aimed at supporting the internationalization of SMEs by facilitating access to credit.
The agreement provides a limit of 500 million euro which can be disbursed to companies with a turnover of less than 250 million euros which is generated for at least 10% abroad.
The operations that can be financed are the classic internationalization operations already established in other agreements signed by Sace and related to this topic (cf. Sace and Banca Carige: 20 million for internationalisation). The loans, of variable amounts between 250.000 and 5 million euros with a duration of between 3 and 5 years, will be disbursed by Mediocredito Italiano and covered up to 70% by a Sace guarantee.
The Sace guarantee will allow the disbursing institution to finance the internationalization project up to 80% of the total cost without the need for the applicant company to offer real guarantees to cover the loan. With this agreement, the two Groups are not limited to the disbursement of the loan and its partial coverage, but offer an assistance and consultancy service regarding the entire internationalization project undertaken by the requesting company.
Sace's Chief Operating Officer, Raoul Ascari, underlined how this agreement aims to untie the issue relating to the lack of credit which does not allow companies to support their growth and development projects in the current economic and financial situation. The Head of Intesa Sanpaolo's Global Banking and Transaction Department, Stefano Stagnoni, focused his attention on the need to continue on the path of a "Public and Private Partnership essential for creating the best solutions for the Italian industrial fabric in a coordinated and synergistic way"
Further details are present in the full text of the press release available at this address.
