March 2021
EIF and Solution Bank provide EUR 250m for Italian SMEs
Solution Bank and the European Investment Fund (“EIF”) signed an agreement for EUR 250 million to provide liquidity to Italian SMEs in the context of the Covid-19 pandemic. Solution Bank benefits from support by the EGF Guarantee Instrument, implemented by the European Investment Fund with the financial backing of the Member States contributing to the EGF.
The loans, both short- and medium/long-term, are backed by a guarantee (equal to 70% of the amount financed) issued by the Pan-European Guarantee Fund (“EGF”) and are intended to support Italian Small and Medium-Sized Enterprises (“SMEs”), providing liquidity to resist the crisis and continue their growth and development in the medium and long term.
Funding is limited to EUR 7.5 million and is available to all enterprises and organisations that fall under the SME definition. Purposes may include (i) Investment in tangible and/or intangible assets; (ii) Working capital/liquidity; (iii) Transfer or acquisition of business unit(s); and (iv) Refinancing/consolidation of existing obligations.
For more information, please contact your local branch.