ICCREA BancaImpresa and SACE make available 130 million euros to support small and medium enterprises on international markets. Tha banking group and the the insurance-financial group, specialized in internationalization, have renewed two credit limit of total ammount of 130 million euros, to support companies that aim to invest or increase their presence and competitiveness abroad.
The first agreement brings to 30 million euros the credit limit for short-term loans to companies who want to pursue international projects and need working capital for the acquisition of contracts abroad. Thanks to the agreement, the companies with a sales volume up to 250 million euros, destined at least 10% abroad, will able to ask for short-term loans intended to finance working capital requirements and any other costs directly attributable to the implementation of the order abroad. The loans will have a term between 6 and 18 months less one day, a minimum amount of 200,000 euros and a maximum of 1.5 million euros, and will be guaranteed by SACE up to 70%.
With the renewal of the second agreement, however, the credit limits made available to companies for the medium and long term increases up to 100 million euros, also guaranteed by SACE up to a maximum of 70% of the amount requested. The recipients of the loans are small and medium-sized enterprises with a turnover not exceeding 250 million euros, of which at least 10% destinated to foreign markets.
The loan must be destinated to investments such as plant costs, patents and trademarks, purchase of properties, land and equipment, acquisition of investments, creation of joint ventures, trade promotions and advertising, participation in trade fairs in Italy and abroad, Made in Italy protection, upgrades and replacement of facilities and equipment and construction of plants for alternative energy production.