Superbonus 110%: Intesa Sanpaolo and Finco in support of businesses

Intesa Sanpaolo and FINCO (Federation of Industry, Products, Plants and Services and Specialist Works for Construction and Maintenance) have signed an agreement for allow the 13.000 member companies to make the most of the opportunity offered by the Superbonus 110% and the other tax incentives introduced by the Relaunch Decree. The partnership includes a package of solutions that respond to a dual need: to support companies in the execution phase of the works and to make the tax credits acquired through the discount on the invoice liquid. A way open to the supply chain also to be able to immediately have the necessary liquidity to start the construction sites.

In detail, Intesa Sanpaolo offers FINCO members:

• loans in the form of "contract advances" aimed at accompanying companies in the management of tenders and in the execution of works up to their completion, also with the support of the Central Guarantee Fund;
• purchase of tax credits relating to the redevelopment of the building heritage and liquidation of the same with the formula of the transfer without recourse:
  – In the specific case of the Superbonus, the accrued credit equal to 110 euros will be paid at the value of 100 euros (90,91% of the nominal value of the credit);
  – for other tax credits, in the context of building bonuses and with compensation in 5 annual installments, the purchase will take place at 90,91 euros per 100 euros of tax credit (that is, always at 90.91% of the nominal value credit);
  – for tax credits with compensation in 10 annual installments, the purchase will take place at 80 euros for 100 euros of tax credit (80% of the nominal value of the credit).

Member companies will also be able to take advantage of a free online assistance service through a platform managed by Deloitte, a specialized operator for the management of the administrative steps and the final certifications necessary for the purposes of the tax credit. Finally, to give further impetus to investments and to facilitate those in capital goods functional to energy efficiency measures and anti-seismic safety measures for buildings, Intesa Sanpaolo has envisaged some solutions that can be combined with the measures of the Liquidity Decree:

• a medium-long term loan with a term of up to 72 months and pre-amortisation
  up to 36 months;
• leasing, reverse factoring and confirming products to support suppliers.

For Intesa Sanpaolo, Andrea Lecce, head of the Sales & Marketing Department for Individuals and Retail Companies commented as follows: "The agreement, finalized in a very short time, is very important to allow member companies to immediately take advantage of a strategic measure for the relaunch of the construction sector and related supply chains, which have always been the driving force of the Italian economy, particularly penalized by the pandemic. To better support economic operators, especially small and medium-sized enterprises, and private individuals in energy and environmental restructuring and redevelopment projects, we focus on advance financing of the works, on the free documentary verification service and on the possibility of liquidating within five days from when the credit arrives in the applicant's tax drawer".