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CLASS

Export: soft loans ceiling by Simest becomes higher

July 09, 2020


Abstract : The measure is added to the two innovations which are already active since mid-June: for the entire 2020 the applicant companies are exempted from requirement of providing guarantees in order to have access to financing and are able to receive up to 40% of required amount on a non-returnable basis.

MILAN, July 7 (Class Editori) - The new maximum amounts of loans addressed to internalization by Simest become higher. In some cases, they double, by making soft loans more attractive also for MidCap and large companies.

The measure is added to the two innovations which are already active since mid-June: for the entire 2020 the applicant companies are exempted from the requirement of providing guarantees in order to have access to financings and are able to receive up to 40% of the required amount on a non-returnable basis (the maximum amount which can be given on a non-returnable basis is equal to €100,000). The remaining amount has to be repaid on the medium-long term and with favorable conditions (in July, equal to 0.085% per year).

Lastly, by summer the operation of the financings already granted due to COVID-19 will be extended also to intra-EU projects and there will also be the extension of the expenditures and of the kinds of companies which can be financed.

With the new amounts which can be required to the company of the CDP group, that with SACE is part of the international hub, the capitalization instruments increase from €400,000 to 800,000. According to a note, the instrument turns into a real liquidity injection in the medium-long term (6 years, 2 of which of pre-amortization).

As for the foreign markets entrance, the financing accounts for €4 million, starting from 2.5 million and it might be granted to companies with regard to the opening expenses of a shop, corner, showroom, office or after-sales service centre abroad.

In terms of feasibility studies, the coverage of 100% of the expenses increases from €150,000 to €200,000 for studies related to trade investments and from €300,000 to €350,000 for studies related to productive investments.

In the e-commerce field, the companies which would like to exploit the potentiality of electronic trade can have access to a financing which increases from €300,000 to €450,000 if they aim at starting their own online platform and from €200,000 to €300,000 in order to join a marketplace supplied by third parties.

And, lastly, exhibitions. The loans ceiling rises from 100 to €150,000 in order to cover up to 100% of the planned expenditures for the exhibition area, logistics and promotional activities, as well as consulting services related to the attendance of international shows/exhibitions, by including the system missions promoted by the Ministry of Economic Development and by the Ministry of Foreign Affairs organised by ICE Agency, Confindustria and other institutions and traders' associations.

(Source:Class Editori)

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