LOAN FOR BUSINESS IN ITALY

Financial support programs for business in Italy

The Italian government supports small and medium-sized businesses by providing them with financing.

An agreement was signed between the Minister of Economic Development of Italy and the presidents of the Italian Chambers of Commerce and Industry on the establishment of pedestrian special sections of the Central Guarantee Fund in more than 15 provinces of Italy. The key provisions of this agreement were the introduction of a system of support and internationalization of small and medium-sized enterprises.

In addition to the units of the central guarantee fund, lending is provided by a large number of banks.

In what cases can you get a business loan in Italy?

In accordance with the program to support small and medium-sized businesses in Italy, you can get from 20,000 euros to 2 mln euros with repayment within 5 years

To receive support for small and medium-sized businesses, a company must meet the following conditions:

• To be constantly emphasized and registered in the Italian register of enterprises;
• Fully comply with your rights;
• Not to be on the list of companies that conduct illegal operations, which were published by the European Court;
• Is not in the stage of bankruptcy or voluntary liquidation.

In particular, the enterprise may also request more than one loan, provided that the total amount of funds does not exceed 2 million euros.

The loan must be repaid to the government at an annual rate of 2.75% (3.575% for specific technology investments)

Also, there is a lot of government support for starting or developing a business. The Portal Pyme website of the Ministry of Industry, Trade and Tourism has a list of all current aid for companies.

There are quite a few banks in Italy, about 30, and many of them offer business lending services

• Deutsche Bank
• BNP Paribas
• UniCredit Group
• Barclays
• Intesa Sanpaolo

What documents are required to obtain a business loan in Italy?

Necessary documents for obtaining financing

• VAT declaration of the previous and current years.
• Declaration of income.
• Bank account statement (if in another bank).
• Current turnover balance of the enterprise.
• Confirmation of payment of corporate tax.

What loans can be granted?

The following types of loans can be provided for businesses:

• Term loans are one of the most common types of business financing
• Start-up loan – provided for the creation of a new business and startups
• Loans for working capital
• Loan provided for equipment financing

Law company “Prykhodko and Partners” knows how to properly issue a business loan, so we advise you to contact us.

Our services are priced from 200 euros per consultation and subsequent support.