Mediocredito Centrale (MCC) has launched the Professional Subsections of its Fondo di garanzia per le PMI (SME Guarantee Fund), under the Special Section set up by Cassa Depositi e Prestiti (CDP). The subsections are financed to the tune of €5.4 million by seven professional funds belonging to the Association of Private Social Security Institutions (ADEPP).
The Professional Subsections of the CDP Special Section aim to finance higher guarantees than those ordinarily provided by the Fund: up to 90% for reinsurance and up to 80% of the amount of the financial transaction for a direct guarantee. In particular, under the Fund's current transitional framework, the increase applies to all reinsurance operations (which currently have 80% coverage) and direct guarantee operations (which have 60% coverage) for liquidity loans to professionals in bands 1 and 2 of the Fund's rating model.
The Professional Subsections were established under the framework of the agreement signed between the Ministry of Business and Made in Italy, the Ministry for the Economy and Finance, and CDP.