LOANS OF UP TO 30 THOUSAND EUROS EXTENDED UNTIL JUNE 30, 2021
Circular no. 1 of 2021 by Mediocredito Centrale clarified that the new provisions of the Budget Law 2021 for loans of up to 30,000 euros, 100% guaranteed by the SME Fund, are operational from January 13.
There are three main innovations: i) amount that can be requested up to € 30,000; ii) maximum duration of 15 years; iii) interest rate of 0.20% plus Rendistato.
Have you benefited from the SME Fund financing in 2020?
You can request the extension of the duration up to a maximum of 15 years and the integration of the amount to obtain a total credit up to a maximum of € 30,000.00, with the application of the new conditions in terms of interest.
For an overview, the main terms of the above SME Fund financing are summarized:
1) small and medium-sized businesses;
2) Individuals engaged in business, arts or professions, including professional associations and companies among professionals;
3) individuals carrying out activities under section K of the ATECO code;
4) from January 1, 2021 non-commercial entities are excluded.
Through June 30, 2021
Up to a maximum of 15 years with a 24-month pre-amortization (so repayment cannot begin until 24 months from the date of disbursement).
Not exceeding € 30,000 and in any case not exceeding, alternatively, to:
- a) 25% of the turnover of the last budget or last statement or, if the latter were not yet available, by other appropriate documentation, including through self-certification pursuant to art. 47 of Presidential Decree no. 445/2000;
- b) twice the annual wage bill of the beneficiary of the last balance sheet or last statement or, if the latter were not yet available, by other appropriate documentation, including self-certification under Article 47 of Presidential Decree no. 445/2000.
Not to exceed 0.20% increased by the value, if positive, of the Annuity with a term similar to the loan.
LDP Tax & Law has been working alongside Italian and multinational companies for over 30 years, even more so in this period to overcome, as soon as possible and together, this complex historical parenthesis.
LDP Tax&Law remains at your disposal for any further information or in-depth analysis of the topics discussed above.