Things
In order to encourage economic development and the growth of employment levels in the country, by decree of the Minister of Economic Development dated 4 December 2014, pursuant to the provisions of article 1, paragraph 845, of the law dated 27 December 2006, the n. 296 and subsequent amendments, a specific aid regime aimed at promoting the creation and development of small and medium-sized cooperative companies. This intervention complements that provided for by law no. 27 February 1985. 49, the so-called Marcora law, providing for the granting of subsidized financing to cooperative companies in which the financial companies - owned by the Ministry of Economic Development - take on, or have taken on, shareholdings pursuant to the aforementioned Marcora law. The provisions of the aforementioned ministerial decree of 4 December 2014 were replaced by the decree of the Minister of Economic Development of 4 January 2021, which established a new aid regime aimed at strengthening support for the creation, development and consolidation of cooperative companies. The new subsidized intervention provides that the procedure for granting subsidized financing in favor of cooperative companies continues to be managed by the financial companies participated by the Ministry which is entrusted with the implementation of the interventions pursuant to the aforementioned law no. 49/1985, in order to ensure adequate and balanced financial coverage for the "business plan" of cooperative companies, both in terms of own resources and medium-long term debt. With directorial decree of 31 March 2021, the operational aspects for the presentation and evaluation of applications, the granting and disbursement of benefits and the monitoring of subsidized initiatives were defined as well as the methods for regulating relations between the Ministry of Economic Development and the financial companies entrusted with the management of the intervention.
Who is it aimed at?
Production, labor and social cooperative societies referred to in article 17, paragraph 2, of law no. 27 February 1985 can benefit from the benefits. 49 which, as provided for in art. 1, paragraph 1, letter f) of the Ministerial Decree of 4 January 2021, are already owned by CFI. To consult the methods of submitting the application for participation pursuant to the aforementioned Law of 27 February 1985 n. 49 (so-called Marcora Law) please refer to the page https://www.cfi.it/legge-marcora.php.
What does it predict
The subsidized loans are granted in order to support, throughout the national territory and in all production sectors, in compliance with the limits established by the exemption Regulations or by the de minimis Regulations applicable from time to time, the birth, development and consolidation of cooperative production, work and social companies referred to in article 17, paragraph 2, of law no. 27 February 1985. 49. The subsidized loans: – have a duration of no less than 3 years and no more than 10 years, including a maximum pre-amortization period of 3 years, – are repaid according to an amortization plan in deferred constant six-monthly installments, expiring on 31 May and on November 30 of each year, – are regulated at an interest rate of zero percent, – if they are granted against new investments, they can cover the entire amount of the investment program, – are granted for an amount not exceeding 5 times the value of the shareholding already held by the financial company in the beneficiary cooperative company, and in any case for a total amount not exceeding 2,000,000.00 euros.
