Things
It is an instrument of the Italian State and the European Union established to facilitate access to credit for small and medium-sized businesses and professionals. The State replaces the guarantees that the bank requires to provide a loan. This is a revolving fund which, due to the gradual repayment of loans, is able to reuse the allocated resources several times.
Who is it aimed at?
The subjects to whom the public guarantee is granted are small and medium-sized enterprises (as defined by European legislation), including artisan businesses, present on the national territory, economically healthy and belonging to any sector, with the exception of sectors deemed sensitive by the European Union. Beneficiaries of the Fund are also consortia and consortium companies, made up of small and medium-sized enterprises and mixed consortium companies. Finally, professionals registered with professional orders and those belonging to professional associations registered in the list kept by the Ministry of Economic Development and in possession of the legal certification are eligible for the Fund's guarantee.
What does it predict
Depending on the nature of the person who turns to the Central Guarantee Fund, there are different methods of intervention: - Direct guarantee: the guarantee provided by the fund directly in favor of the lenders. In this case the company can ask the bank to guarantee the operation with the public guarantee. – Counter-guarantee: the guarantee given by the Fund in favor of the Consortiums and other guarantee funds. In this case, the latter two subjects will send the counter-guarantee request to the Fund. – Co-guarantee: the guarantee provided by the Fund directly in favor of the financing entities and together with the Consortiums, the other guarantee funds established within the European Union or co-financed by it. The Central Guarantee Fund does not intervene directly in the bank/business relationship, therefore the interest rates, the repayment conditions, and any request for additional guarantees on the part not covered by the Fund are established through free negotiation between banks and businesses. With the introduction of the Transparency Plan, however, a series of measures have been defined for the manager and the financiers in order to improve the bank-consortia-business relationship and maximize the benefits of the Fund's intervention in favor of businesses , determining, thanks to the presence of the guarantee of last resort by the State, favorable conditions in terms of pricing and/or greater volume of credit granted.
