System in force until 31 December 2023
- Maximum amount of the loan of EUR 5 million. With regard to loans requested under the TCF, the amount of the financial transaction, added to the total amount of any other financial transactions facilitated under Sections 2.2 and 2.3 of the TCF, may not be higher, alternatively:
- 15% of the average total annual turnover in Italy for the last three years (if the company started its operations after 31 December 2019, reference must be made to the average total annual turnover of previous years);
- 50% of the costs incurred for energy in the 12 months preceding the month of the request for a loan;
- the liquidity needs of the final beneficiary in the following 12 months, if the beneficiary has experienced interruption of the supply chains or a greatly increased cost of energy, raw materials and/or semi-finished products as a result of the conflict, or has suffered a sharp decrease in turnover due to high exposure in those markets, has pending payments from Russia or Ukraine, or has recorded an increase in costs for cybersecurity. It is also specified that this liquidity need must not have been covered by the aid measures provided for in the temporary framework for State aid introduced following the COVID-19 pandemic;
- Amount guaranteed by the Guarantee Fund:
- 80% for loans with investment purposes regardless of rating;
- 80% for the types of final beneficiary and financial operation for which the rating does not apply (innovative start-ups and certified incubators, microcredit, reduced amount);
- only for loans requested under the TCF: 90% of the amount financed for loans aimed at achieving objectives for the efficiency or diversification of energy production or consumption, such as, by way of example, those aimed at meeting energy needs with energy from renewable sources, investing in energy efficiency measures that reduce the energy consumption absorbed by economic production, making investments to reduce or diversify the consumption of natural gas or improving the resilience of business processes compared to exceptional fluctuations in prices on electricity markets;
- duration up to a maximum of 72 months;
- Types of asset financed: capital goods, semi-trailers, trailers, industrial vehicles;
- Deadline of 9 months for delivery of the asset/signing of the delivery report (instead of 6 months), which produces the effects of the date for granting the loan;
- Administrative management costs of € 500.00 (instead of € 1000.00).
As a general rule, a fee will need to be paid to the Fund for use of the guarantee, as specified in article 2, paragraph 100, letter a), of Law no. 662 of 23 December 1996. It is granted, instead, free of charge, for the exemption cases provided for by the Operational Provisions (e.g. companies located in the south of Italy, women’s enterprises, road haulage companies) and, pursuant to the Aid Decree, for companies, located in Italy, operating in one or more of the sectors or subsectors particularly affected by the consequences of Russia’s aggression against Ukraine indicated at the following link: https://eur-lex.europa.eu/legal-content/IT/TXT/PDF/?uri=OJ:C:2023:101:FULL, as well as for financing guaranteed at 90% aimed at achieving objectives for the efficiency or diversification of energy production or consumption
In the event of non-performance of the loan for reasons attributable to the Customer, following a resolution of approval by the Management Board of the Guarantee Fund, the Customer is required to pay a fee of EUR 300.00.
For companies located in the areas affected by the flooding that took place starting 1 May 2023, as more thoroughly identified by the Flood Decree and available at the following link: https://www.gazzettaufficiale.it/eli/id/2023/06/01/23G00074/SG, the guarantee is granted free of charge and up to 80% of the financial transaction, in the event of direct guarantee, which can be raised up to 90% if the guarantee is requested pursuant to the «Temporary crisis and transition framework for state aid measures to support the economy following the aggression against Ukraine by Russia» referred to in communication 2023/C 101/03 of the European Commission.
These conditions partially derogate from the provisions in the Information Sheet on Vehicle Leases and Equipment Leases following provisions introduced by the Budget Law 2022 and Aid Decree, as extended under Budget Law 2023, and the Flood Decree.
To access the Guarantee Fund, it is necessary to send the leasing company the application form (Annex 4) published by the Ministry of Economic Development at the following link https://www.fondidigaranzia.it/normativa-e-modulistica/modulistica/ with a certain date. The application form must be signed by the legal representative of the company and be completed in full.
For further information, contact your local branch or call the Direct Line at 800 555 078.