SYME / SACE ALLIANCE WILL BE MASSIVE!!7 Apr 2022 14:32
By Mr Market
Funds provided to #SYME’s Italian Clients via their unique Inventory Monetisation Fintech Platform will be covered by Italian Government’s SACE guarantee. £34 Bill guaranteed to date. SACE & SYME are working closely to help more SME’s Cash Flow. Each £1 Bil = Approx 1p SYME SP
https://twitter.com/marketmaster88/status/1512039918482206721?s=21&t=7U0jp_X0-2wawbz2X3WAPQ
Requests for guarantees for new bank loans for micro, small and medium-sized enterprises presented to the Guarantee Fund for SMEs rose to approximately 239 billion. Through SACE's 'Garanzia Italia', the volumes of guaranteed loans rise to approximately 34 billion euros, out of 4,987 requested transactions received. These are the main results of the survey carried out by the task force set up to promote the implementation of the measures to support liquidity adopted by the Government to deal with the Covid-19 emergency, which includes the Ministry of Economy and Finance, the Ministry of Economic Development, Bank of Italy, Italian Banking Association, Mediocredito Centrale and Sace.
The Ministry of Economic Development and Mediocredito Centrale (MCC) reported that 2,670,608 requests for guarantees were received by the Guarantee Fund in the period from 17 March 2020 to 5 April 2022 to request guarantees for loans in favor of businesses, artisans, self-employed and professionals, for a total amount of over € 238.9 billion. In particular, the applications received and relating to the measures introduced with the 'Cura Italia' and 'Liquidity' decrees amounted to 2,650,652 equal to an amount of approximately 237.1 billion euros. Of these, 1,183,239 refer to loans of up to 30,000 euros for a financed amount of approximately 23 billion euros which, according to the provisions of the law, can be disbursed without waiting for the final outcome of the investigation by the Operator and 694,907 guarantees for moratoriums pursuant to art. 56 of DL Cura Italia for a financed amount of approximately 27 billion. As of April 6, 2022, 2,652,203 transactions have been accepted, of which 2,632,620 pursuant to the 'Cura Italia' and 'Liquidity' decrees.
The total volumes of loans guaranteed under the "Guarantee Italy", SACE's tool to support Italian companies affected by the Covid-19 emergency, rose to approximately 34 billion euros, for a total of 4,987 transactions. Of these, approximately € 9.9 billion relate to sixteen transactions guaranteed through the ordinary procedure provided for by the Liquidity Decree, relating to loans to large companies, with over 5,000 employees in Italy or with a turnover value greater than 1, 5 billion euros. In addition, the total volumes of guaranteed loans in simplified procedure rose to 24 billion euros, against 4,971 requests for guarantees managed and issued within 48 hours of receipt through the dedicated digital platform to which over 250 banks are accredited.