By the end of the summer, Italian companies will have access to a new financial support program presented by the governmental organization SIMEST (Italian Society for Mixed Enterprises Abroad).
This new program guarantees financing of up to a maximum of 2.5 million euros at a very advantageous interest rate of 0.4%, repayable over 6 years.
SIMEST has been supporting the growth of Italian businesses through the international expansion of their activities since 1991. It assists companies throughout the entire cycle of expanding abroad, from the initial assessment of entering a new market to expansion through direct investments. It operates through financing for internationalization, credit support for exports, and participation in the capital of companies.
The financing allows small and medium size companies to obtain the necessary liquidity to open a branch abroad and hire a Temporary Export Manager for the development of foreign markets. Additionally, it provides the opportunity to participate in trade shows and industry events, as well as invest in marketing and advertising.
The Italy-America Chamber of Commerce Southeast is collaborating with SIMEST to give maximum exposure to this initiative, and is available to provide further information on this program. It’s important to know that the financing is provided 50% at the beginning of the activity, while the remaining 50% is disbursed based on expense reporting. Approval times for projects are approximately 3 months, and it’s possible to request a grant of up to 10% of the obtained financing.
Please contact firstname.lastname@example.org for more information.