Credit Agreement 2019 – “Imprese in Ripresa 2.0” Initiative (ABI Agreement), as supplemented by the Addendum of 6 March 2020, the Addendum of 22 May 2020 and the ABI Circular of 26 June 2020
Banca Ifis has adhered to the 2019 Credit Agreement – Businesses in Recovery 2.0, signed between the Italian Banking Association and various Business Associations which, with a special Addendum, signed on 6 March and 22 May this year, and with the ABI Circular of 26 June, extended the facilitating measures also in favour of micro, small and medium-sized enterprises (SMEs) and larger companies compared to the category of SMEs damaged by the COVID-19 emergency.
In this context, with reference to the contracts entered into by 31 January 2020, corporate customers can request:
- For medium/long-term loans (mortgages), the suspension of the principal of the instalments or of the entire instalment for up to 24 months and, for leasing, the suspension of the implicit principal of the instalments or full instalment for up to 24 months: for both types of facility, the suspension entails the corresponding translation of the depreciation plan for a duration equal to the suspension period;
- For mortgages, the extension of the depreciation plan up to a maximum of 100% of the residual duration;
- For short-term loans, the extension of the deadline up to a maximum period of 270 days.