Approved in the day of yesterday the I decree liquidity with which they have been allocated beyond 400 billion euros in more regarding the 350 billion already previewed in the dl cure Italy
to support the liquidity of companies in coronavirus crisis.
These are loans up to 90% guaranteed by the State without limits on turnover, for enterprises of all types. The system of disbursement is very simple and directed to the banking system, through sace, whose role is strengthened also in the field of the export and the support to the internationalization of the enterprises.
In particular, 200 billion loans are mobilised with guarantees of up to 90% for all companies, without limits of turnover, and another 200 billion credits for export support.
These are the main points:
1) 100% up to 25 thousand euros without any credit assessment; 2) 100% (of which 90% State and 10% confidi) up to 800,000 euros without a performance evaluation; 3) 90% up to EUR 5 million without a performance assessment.
Here are government measures to help companies.
The draft decree stipulates that “the guarantee shall be issued by 31 December 2020 for financing not exceeding 6 years”, provided that the beneficiary company is not one of the companies in difficulty on 31 December 2019.
Here is the crux of the percentages: the guarantee covers 90% of the amount of financing for companies with less than 5000 employees in Italy and turnover up to EUR 1.5 billion. It covers 80% for companies with a turnover between 1.5 billion and 5 billion euro or more than 5000 employees. It covers 70% for companies with a turnover of more than 5 billion.
And on export was reached the agreement between mef – farnesina. The State will insure 50 billion guarantees given by sacred goods to exporters, freeing 50 billion for new guarantees that will allow export to share. In addition to these guarantees in 2021, a further EUR 200 million was provided for new investments.
Among the most important news, moreover, the extension of taxes and contributions with the stop of those scheduled in April and May and the suspension of trials until May 11; almost certainly the strengthening of the so-called “Golden Power”to guarantee the government’s power against possible foreign acquisitions of SMEs and businesses.
The Company Liquidity Decree serves as an anticipation of the largest decree in April with welfare measures and social shock absorbers.The latter is expected in the middle of the month.