New financing for exporting SMEs

Interesting opportunities are emerging for Made in Italy companies intending to enhance their activities and consolidate their business abroad. Simest, which falls under the control of the Ministry of Economic Development, through Simest SpA, now controlled by Cassa Depositi e Prestiti, has decided to introduce some innovations regarding revolving funds and, specifically, will re-propose the loan pursuant to Law 133/08 - Art. 6, paragraph 2, lett. c "Capitalisation of exporting companies" (already presented two years ago), revising the terms.

This loan, established in favor of exporting SMEs only, in order to improve their capital solidity and increase their competitiveness, provides for the disbursement of 500,000 euros over 4 years + 2 pre-amortization at a rate of 0.5%, without guarantees and outside the channel bank for those companies that will fall within certain well-defined parameters.

In particular, with the new amendments, all SMEs which have exported an average of at least 35% of their turnover in the last three years and which have a ratio between shareholders' equity and fixed assets between 0.8% and 2% (for SMEs of services and commercial the ratio is instead between 1 and 2%) can make a regular request; it should also be noted that the application can also be made by Srls, but at the time of the loan they must be established in the form of SpA

The intervention will be divided into two distinct phases:

• disbursement phase and grace period;
• repayment stage.

As regards the disbursement, the 100% of the contribution will be granted within 6 months of the resolution, which in turn will take place within 3 months of the application.

This is a particularly important measure for Italian Small and Medium-sized Enterprises, grappling with a difficult economic context, and whose need to internationalize their activities is becoming increasingly stringent, above all so as not to be crushed by international competition on global markets.

For further information and insights and to view the information sheet click here.

Interested companies wishing to start an internationalization process can request a meeting with our consultants by contacting us via e-mail at the following address: octagona@octagona.com or at our telephone number: 059.9770184. For more information on the services offered by Octagona click here.

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