In recent months, the factoring sector has been gaining more and more space, especially as regards the receivables claimed by companies from the Public Administration. The decision of Sace Fct, a factoring company of the Sace Group, to join the initiative, promoted by Chamber of Commerce, From Province and from Municipality of Mantua, "Unlock Credits".
Over time, the project has expanded the geographical area involved through the adhesion of numerous municipalities in the Mantua hinterland, and has increased its potential with the intervention of major credit institutions (Intesa Sanpaolo, Unicredit, Mps, Bper and others).
The objective of the agreement is "to promote the divestment of receivables claimed by Mantuan companies from the PA by promoting the use of factoring tools". The agreement allows supplier companies to request the certification of credits from the signatory bodies of the protocol by 31 May 2013 and to access the 300.000 €, allocated by the Mantua Chamber of Commerce, for the partial coverage of the financial charges associated with the transaction.
The entry of Sace Fct will guarantee Mantuan businesses access to the factoring company's products at the best market conditions. Antonio romeo, Commercial Director of Sace Fct, underlined the weight of the lengthening of PA payment times on businesses' liquidity needs. Romeo also declared that "the agreement signed today represents another important step for Sace Fct in support of the Italian economic system and strengthens the company's presence in Lombardy, a region where other important partnerships are already active for the disinvestment of receivables from the PA".
