Guarantee Fund: the call to support SMEs like Orvat

Ministerial Decree July 9, 2020 approved, as a supplement to the eligibility conditions and general provisions of the Guarantee Fund for small and medium-sized enterprises, the operating procedures for the intervention of the special section referred to in Article 56, paragraph 11, of Decree-Law No. 18 of March 17, 2020 (Decree "Cura Italia"), adopted by the Management Board of the Fund at the meeting of April 14, 2020.

Since 2000, the Guarantee Fund for SMEs established through Law no. 662/96 has been active.

What is its main purpose? The guarantee was created with the aim of encouraging access to financial sources for small and medium-sized enterprises through the assignment of a public guarantee. This guarantee makes it possible to flank and replace the real guarantees brought by the companies.

The Fund allows companies to obtain financing in a concrete way without the need for additional guarantees on the amounts that the Fund guarantees. This avoids the costs of sureties or insurance policies, and the Fund supports businesses without offering cash contributions.

The most recent data collection shows that over 99% of businesses have accessed financing with Fund coverage even without presenting collateral. We are happy to share the news that, among these companies, there is also Orvat: its request for financing linked to the recovery plan proposed by the State has been accepted.

The adhesion to the call allows Orvat to enter among the companies that have been granted economic aid to relaunch new activities in support of business growth. The main objective of this guarantee granted by the State is to support various Italian activities after the months of difficulty and weakening implemented by COVID-19.

Pursuant to art1, co. 125-129, L. n. 124/2017 the public aid and contributions received are published:

Grant date 31/07/2020

Subject disbursing Banca del Mezzogiorno MedioCredito Centrale S.p.A.

Cause COVID-19: SME Guarantee Fund State Aid SA. 56966 (2020/N)

Aid element € 25.000,00

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