CDP Group has put in place extraordinary measures through this product to support businesses due to the Covid-19 emergency.
In the current climate with a slowdown in the economic cycle a result of the Covid-19 emergency, financial support for the supervised Confidi system is a concrete way to facilitate access to loans for small and medium-sized enterprises.
Enterprises operating in Italy with less than 250 employees (full-time equivalent), who meet the requirements to benefit from the guarantee backed by the SME Guarantee Fund.
The Confidi Fund, amounting to 500 million euros, is intended for financing investments, to be implemented or in progress, and to increase the working capital of SMEs.
Enterprises operating in Italy with less than 249 employees, full-time equivalents, may use the Fund, providing they meet the definition of Beneficiary as stated in the Agreement and that they comply with the requirements to benefit from the Fund guarantee backing.
Non-autonomous SMEs are also eligible for financing, provided that the number of associated/linked employees is less than 249 units.
Financing can be granted by Confidi through the Fund, subject to acquiring Fund guarantee backing for a portion of not less than 80% of each individual loan.
Each SME loan may be granted for a maximum cumulative amount not exceeding 250,000 euros.
Previous debt restructuring is allowed within the limits established by the operational provisions of the Guarantee Fund, including renegotiation/refinancing transactions, as long as the new financing includes additional credit to the amount of the debt being renegotiated, for a minimum of 25% (as required by Art. 13 paragraph 1 letter e) of Decree Law 23/2020, as amended in the conversion phase).
At one of the participating Confidi partners.
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