SMEs (until 30 June 2022)
- Amount to be determined according to corporate needs, subject to the Bank’s assessment and the maximum amount of loans guaranteed by the Guarantee Fund for each company, equal to € 5,000,000;
- Amount guaranteed by the Guarantee Fund: 80%;
- Maximum duration 96 months;
- Grace period up to 24 months;
- Purposes in support of the business activity for liquidity needs (e.g. payment of suppliers, staff, purchase of stocks, financial repositioning), to carry out investment programmes or renegotiate existing loans [loans for renegotiation purposes provide for the disbursement of additional credit equal to at least 25% of the amount of the outstanding debt of the loan(s) being renegotiated and reduction of the interest rate applied if carried out pursuant to Point 3.2 of the temporary Framework, or concern renegotiation of loans granted by the Bank not already guaranteed].
SMEs whose business activity has been damaged by the COVID-19 emergency (pursuant to the Liquidity Decree art. 13 par. 1 letter m):
- Maximum loan amount of 25% of the beneficiary’s total turnover or double the wage bill (for companies set up as of 1 January 2019 at the annual wage costs foreseen in the first two years of activity), resulting from the filed financial statements or tax returns for 2019, 2020 or 2021. Regarding 2021 also through self-certification pursuant to Presidential Decree 445/2000 or other appropriate documentation, and, in any case, not exceeding EUR 30,000;
- amount guaranteed by the Guarantee Fund: 80%;
- maximum duration 180 months;
- grace period of 24 months.
The companies that have already obtained these loans, pursuant to art. 13, par. 1, letter m) of the Liquidity Decree as converted (indicating a maximum limit of 120 months) may apply for an extension of duration to maximum of 180 months, merely adjusting the interest rate applied, related to the longer loan duration.
Also, for loans referred to in subparagraph m), including those extended pursuant to subparagraph m-bis), whose initial principal repayment date is scheduled to fall in 2022, the date mentioned above may, at the request of the borrower, be extended by a period not exceeding six months, provided that the overall duration of the loan does not exceed 180 months.
Average response time
Average response time
The average time taken by the Bank to grant loans pursuant to the Liquidity Decree art. 13, par 1, letter m, is 18 working days.
For all types of guaranteed mortgage, the guarantee fees and the fee for not finalising the financial transactions will not be applied by the Guarantee Fund until 31 March 2022. As mentioned previously, from 1 April 2022, a fee will need to be paid to the Fund for the use of the guarantee as specified in article 2, paragraph 100, letter a), of Law no.662 of 23 December 1996. with some exemptions provided, for example, for companies based in Southern Italy, for women’s and social enterprises, and for SMEs and innovative start-ups. The guarantee fee is a one-off commission which varies according to the company’s size (0.25% of the guaranteed amount for Micro enterprises, 0.50% of the guaranteed amount for Small enterprises, 1% of the guaranteed amount for Medium enterprises). Until 30 June 2022, in any case, the fee is not due for guarantees issued on loans granted to support the proven liquidity needs of companies resulting from higher costs due to energy price increases.
These conditions partially derogate from provisions in the Information Sheet on Guaranteed Mortgages, Puglia Sviluppo Guaranteed Mortgages and Mortgages Guaranteed with EIB funding and Mortgages Guaranteed with CDP/EIB funding following the provisions introduced by art. 13 of the Liquidity Decree, extended by Budget Law 2022 until 30 June 2022.
Corporate customers wanting to learn more or request further information should contact their branch Manager; Non customers should contact the Local Branch or call the Direct Line on 800 712 433.