CDP Group, EIF Help Sicilian Clothing and Heavy Equipment Companies Grow

CDP Group subsidiary Sace agreed to guarantee a 1.2 million euro loan to help Sicilian clothing retailer Stefania Mode grow its e-commerce business, and 200,000 euros for Sicilian crane company Melcal - operations made possible by the Juncker Plan

Rome January 26, 2017

CDP Group subsidiary SACE agreed to guarantee a 1.2 million euro loan to help Sicilian clothing retailer Stefania Mode grow its e-commerce business - an operation made possible by the "2i per l'Impresa" programme.

The financing will allow the Trapani-based company give customers a better online shopping experience. It will further develop the digitalization process and optimize its multi-media sales channels to meet growing demand in China, Japan, Hong Kong, the United States, and Germany.

The operation was guaranteed by Sace and counter guaranteed by the European Investment Fund (EIF), a European Union agency that provides financing for small-to-medium-sized enterprises.

A second line of credit, totaling 200,000 euros, was granted to Melcal, Sicilian crane services provider with headquarters in Calatafimi-Segesta, near Trapani in western Sicily. The loan will help Melcal meet the working capital requirements necessary to explore new ways of business and the development of important projects in northern Europe. With two subsidiaries in Scotland and the Netherlands, the company, active mainly in the oil & gas offshore sector, exports all of its sales.

The loan guarantees were extended in partnership with Iccrea BancaImpresa and Banca Don Rizzo Credito Cooperativo. Both operations benefit from the "InnovFin" resources within the parameters of Horizon 2020 Guarantee Facility, issued by the EIF in the terms defined within the Horizon 2020 program and the Juncker plan, supported in Italy CDP as a National Promotional Institution.

*InnovFin resources arrives from the Horizon 2020 (European Union Framework Programme for Research and Innovation)