Also in the news...
UK seeks business views on response to US tariffs
Government begins process seeking business views on response to US tariffs
UK/Viet Nam: Free Trade Agreement
This treaty was presented to Parliament in April 2025.
How AI Is Fueling Creative Innovation for Startups Abroad
When most people think about starting a business overseas, their minds immediately jump to logistics: registering the company, navigating local laws, and finding office space. But one of the most exciting (and often overlooked) aspects of expanding internationally is tapping into the global pool of innovation especially in the realm of artificial intelligence (AI).
Support for UK businesses helping to rebuild Ukraine
Department for Business and Trade (DBT) initiatives to support UK businesses helping to rebuild critical infrastructure in Ukraine.
Now is the time to generate growth together with India
£400m of trade and investment wins from UK-India Economic and Financial Dialogue set to boost the British economy.
Coronavirus Financial Supports For Italian Companies: How To Apply
The Corona virus crisis hit the global economy hard, and the 2020 Global GDP forecast shows a strong contraction, and due to that many businesses in Italy, and globally, are facing cash crunches and financial difficulties.
The Italian government introduced various measures at different steps to tackle this issue. First of all, current loans were suspended until late May; later, the 600€ COVID19's indemnity to cover the loss of revenue during March was introduced. However, those actions are not sufficient to sustain the businesses and self-employed struggling with mandatory shutdown, loss in revenue, and rising costs to face once the situation will stabilize.
The Italian government decided to undertake a courageous plan to fix the problem. In summary, every business or self-employed can apply for a government-backed loan up to 25% of the annual turnover up to € 25.000,00.
Who are the beneficiaries?
According to the law only SMEs, sole proprietors, and self-employed are eligible to this program; companies must not be classified as non-performing prior January 31st 2020, overdrafts do not preclude the access to this program.
Loan terms and conditions
The total financeable amount is 25% of last year’s revenue, up to € 25,000.00, and the government-backed guarantee matches the amount financed.
The total duration of the loan is up to 6 years, including a grace period up to 2 years; the payback period is flexible and is agreed with the bank; however, it cannot be extended beyond the 6 years.
The law caps the interest payable to 1.23%, including setup fees, and every other cost. The loan is granted by banks and financial institutions and you can apply to more than one bank at the same time, however, the total amount financeable remains € 25,000.00.
How to apply
+We advise to get in touch with your trusted local bank to apply and the required paperwork is the following:
- Finance request form as provided by the bank
- Government backed guarantee form
- A valid ID
- Your Partita IVA certificate and the Chamber of Commerce Certificate (if applicable)
- Latest tax return (or VAT return), and in absence of it you can self-assess your annual turnover.
Furthermore, the various decrees have eased the procedure to sign contract by distance, making the required paperwork lighter. Finally, there are no credit checks, nor credit rating evaluation. Because the government backs your application eligibility criteria are set by the law and they are not based on a credit rating chart.
Do you need support? Contact us with no obligations.
Simulation
Assuming you apply for € 25,000.00, opting for the 6 years monthly payback plan at 1.23% fixed interest rate. Your monthly cash outflows will look like this: 1-24 months € 25.63 per month 25-72 months € 534.02 per month For the whole duration of the contract you will pay € 1248,00 in total.
Note that if you do not pay any further fee, your bank might also apply more favourable conditions, and interests are tax deductible against taxes.