The Banca di Credito Cooperativo di Cambiano and SACE have signed an agreement with the goal of supporting the activities of Tuscan export businesses.
Thanks to the accord, 'Facilestero' was born - a 20 million euro fund for financing with SACE as guarantor.
Businesses with sales up to 250 million euro can apply to finance their internationalisation projects.
Through 'Facilestero', the businesses will have privileged access to guarantees on their foreign investments.
The financing, which can cover a period up to five years and that gives the ''added value'' of the SACE guarantee of up to 70% of the total, can be requested for any project related to increasing their presence on international markets.
Financing can vary from a minimum of 50,000 euro, up to 500,000 euro.
Giuliano Simoncini, vice general manager of the Banca di Cambiano, said:
''With this new product, the first stipulated with a cooperative credit union, the bank collects the requests and evaluates them with SACE to supply the guaranteed financing according to the best market conditions.
''The initiative was created to meet the needs of small and mid-sized businesses, helping them to confront potentially difficult investments that are strategic to joining foreign markets, such as opening offices abroad, promotional activities, and research and development''.
Simonetta Acri, Director Business Italia SACE said: ''Thanks to the agreement, we can propose a competitive and concrete instrument to support the internationalisation of businesses in Tuscany''.
