The main objective of the Garanzia SupportItalia is to support companies and help them source the necessary liquidity to face the negative economic effects resulting from the Russian war in Ukraine, the sanctions imposed on the Russian Federation and the Republic of Belarus by the European Union and its international partners, and any retaliatory measures adopted by the Russia.
Garanzia SupportItalia forms part of a raft of measures introduced by Decree Law no. 50 of 17 May 2022 (the “Aid Decree”), and subsequently amended by Law no. 91 of 15 July 2022, and allows SACE to issue guarantees in favour of banks and financial institutions for loans that help those economic and business activities impacted by the crisis to continue their operations.
The guarantee must be granted by 31 December 2023, unless the deadline is extended.
This financial solution is intended for Italy-based companies of any size and in all sectors (with the exception of banks and other entities authorised to extend credit) that have been affected by the emergency resulting from the Russian military aggression. These businesses may request loans to support:
solely intended for factories and business activities based in Italy.
In order to access the guarantee, the company must be able to report, with appropriate supporting documents, one of the following two circumstances:
Companies that carry out natural gas storage operations must be able to report, by providing appropriate supporting documents, that the need for liquidity in relation to the loan is directly due to the negative economic impact of the following factors:
The coverage percentage of Garanzia SupportItalia varies between 70% and 90% of the loan amount depending on the number of employees and the company’s turnover volume.
The amount of the guaranteed loan cannot exceed the greater of the following values:
With exclusive reference to the beneficiary enterprises falling under the category of “energy-intensive enterprise” within the meaning of Article 17(1)(a), first subparagraph, of Directive 2003/96/EC, the amount of the Loan, calculated in accordance with the above criteria may be raised up to cover the liquidity needs for the twelve months following the date of the request for financing for SMEs, or for the following six months for beneficiary enterprises other than SMEs, in any case within a guaranteed amount not exceeding €25 million, only after exhausting the maximum loanable amount determined in accordance with the above criteria.
The duration of loans to the company cannot exceed 8 years (and in any case cannot exceed the term of 31 December 2031), with the possibility for companies to make use of a grace period of up to 36 months.
Garanzia SupportItalia is for valuable consideration*, with the payment of advance annual commissions, calculated on the residual guaranteed amount at the end of each calendar quarter, to a reduced extent for SMEs.
(*) Guarantee fees for loans lasting up to 6 years. For SMEs: 25 basis points for the first year, 50 basis points for the second and third year, 100 basis points for the last 3 years; for other companies (Mid Cap and large companies): 50 basis points for the first year, 100 basis points for the second and third year, 200 basis points for the last 3 years.
Guarantee fees for loans lasting longer than 6 years and up to 8 years. For SMEs: 75 basis points for the first year, 100 basis points for the second and third years, 150 basis points for the sixth year; 250 basis points for the seventh and eighth years; for other companies (Mid Cap and large companies): 100 basis points for the first year, 150 basis points for the second and third years, 250 basis points for the sixth year; 350 basis points for the seventh and eighth years.
Advertising message for promotional purposes. For the contractual and economic conditions of the Mortgages backed by the SACE Guarantee, please refer to the information sheets available in the Transparency section of the website www.bancaifis.it.