Credits from the Italian credit line for small and medium sized businesses
As a member of Intesa Sanpaolo, the leading bank group in Italy, we offer you the possibility to use with very attractive interest rate money from credit line approved by the Government of the Republic of Italy for realization of the project “Program of development of private sector as a support to small and middle firms through the system of domestic banks”.
Conditions that you must fulfill in order to submit the request for credit from Italian credit line:
- be registered in Serbia,
- have minimum of 65% of capital of the private firm,
- operate at least 2 years in the activity for which you seek the credit,
- have a positive financial report,
- have a project with good perspective and business plan,
- employ less than 250 employees,
- have annual turnover of less than 50 million euros and/or balance sum less than 43 million euros,
- participate in the capital, that is, making decisions in another legal entity which is classified in a large company category, when participation of the capital is not bigger than 25%.
Funds from the credit can be used for obtaining:
- equipment
- technology and relevant technical aid,
- services,
- spare parts,
- industrial licenses.
Funds from this credit line cannot be used for the financing of:
- taxes, custom duties and VAT paid in the country,
- trading, leasing, insurance companies and financial institutions,
- investments with scope of activities regarding entertainment, gambling, residential real estates,
- investments regarding industry of weapons and ammunition, tobacco and related products,
- production and refinement of spirits and products forbidden for import or export from the corresponding countries based on the valid law or international contracts or agreements.
Minimum 70% of the credit can be used for financing of services or acquisition of goods with Italian origin, while the remaining 30% can be used for covering of expenses in the country and /or working capital regarding investment projects.
Credit line funds initially approved by Italian Government in amount of 33.250.000 euros have been completely used. In the following period there will be a Revolving fund available, which will be formed twice a year from the repaid credits.
Credit feature:
| Amount of the credit | 50.000 up to 1.000.000 EUR |
| Term of paying off: | Up to 8 years in half year’s installments including interest rates, including 2 years of grace period. |
| Interest rate: | From 4,35% a year (independent from the change of exchange rate or inflation growth). |
| Security instruments: | Mortgage on real estates, movable pledges on the equipment or goods, other security instruments according to the bank’s decision. |
| Effective interest rate | 5,79 ( on term of 8 years) |