The fund in support of the internationalisation of enterprises managed by Simest (a company of the Cassa Depositi e Prestiti Group) is due to expire in May 2022, and only 360 million euro of the 1.2 billion allocated at the outset remain available.
The 394 Fund represents an absolute innovation compared to government measures adopted to date, both in terms of allocation and facilitation. Indeed, the instrument represents a unique opportunity for Italian SMEs to receive financing on such advantageous terms for the development of their business both in the EU and in the rest of the world.
The measure allows the applicant company to obtain a subsidised loan with a non-repayable grant of up to 25% and, moreover, without having to provide guarantees.
In addition, for companies that have been operating in southern Italy (Abruzzo, Basilicata, Calabria, Campania, Molise, Apulia, Sicily and Sardinia) for at least six months, it has been decided that the non-repayable loan may amount to up to 40% of the loan requested, in order to meet the need for greater support for the development of companies in southern Italy.
The request for access to funding involves a series of procedures to be followed by the company, from the information, documentation and management points of view.
In this regard, it is worth mentioning our consulting company BizPlace, which for years has been accompanying companies throughout the entire preliminary phase for access to subsidised financing, from the drafting of documentation, the business plan and costs, to the final accounting. The team, which is an expert in subsidised finance, has structured an internal process that makes it possible to verify the financial feasibility of the project and to understand any adjustments and improvements that need to be made to increase the likelihood of obtaining funding.
BizPlace is a point of reference in Italy for supporting companies in obtaining equity, debt and soft finance financing.
Simest offers three possible tools for the international development of Italian SMEs:
1.Digital and green transition:
The maximum amount that can be financed is EUR 300,000 and the instrument finances all costs related to the international development and digital and ecological transition of the company (e.g.: digital integration and development of business processes; technological equipment; consultancy in the digital sphere; personnel training expenses, environmental and sustainability certification).
2. Participation in fairs and exhibitions:
This is a subsidised loan that finances the costs for the participation of an SME in a single international event, including a virtual event between fair, exhibition, business mission and system mission (e.g.: digital expenses for participation in the fair; rental and furnishing of exhibition area; marketing; various equipment; costs related to the staff in charge; logistics expenses and specialist consultancy).
The maximum amount that can be financed is €150,000.
3. Development of electronic commerce:
The subsidised loan finances the costs of SMEs for the creation or improvement of their own e-commerce platform or access to a third-party platform for the marketing of goods or services produced in Italy or under the Italian brand name (e.g. platform development costs; management and operating costs; web marketing and training related to programme development; consultancy for strategic development; hardware and software components).
The amount that can be financed ranges from €10,000 up to a maximum of €300,000 for an own platform and up to a maximum of €200,000 for access to a third-party platform.
If you need clarification or would like to receive more information, please do not hesitate to contact us!
The BizPlace Team