Lazio’s New Small Credit Fund: A Comedy of Financial Support
Ah, the Lazio Region! Where the ancient ruins meet modern dilemmas like funding your latest start-up while trying not to eat too many carbs at lunch! Just when you thought the Roman market was reserved for togas and gladiators, it turns out entrepreneurs are also getting a piece of the action—with the second window of the “New Small Credit Fund” now underway. Yes, folks, that’s right, financial support sprinkled with a good dash of Italian know-how!
What’s the Scoop?
Let’s break it down. The Lazio Region has kicked off the second 2024 window of its “New Small Credit Fund”— a rather charming initiative aimed at micro, small, and medium-sized enterprises that are in dire need of cash, reportedly up to 50,000 euros. And if that doesn’t sound enticing enough, brace yourselves: these loans come with a zero percent interest rate!
But hey, it’s not just about throwing money at you. These loans are structured with a delightful 12-month grace period and a repayment plan that resembles a casual stroll in the park. You could say it’s as easy as a Sunday morning in a Roman villa—minus the olive oil spill, of course.
The Who’s Who of Funding
The meeting to unveil this economic masterpiece went down in the illustrious Tiber Room—because if you’re going to talk money, why not do it with a view of water that’s seen better days? The guest list included some heavy hitters: Roberta Angelilli, vice-president of the Lazio Region; Marco Bertucci, the Budget Commission president; and others who likely have fancy titles that are impossible to remember after one too many espressos.
Will It Work? Spoiler: It Already Has!
The previous iterations of this fund have reportedly blessed nearly 1,200 companies with more than 37 million euros (and that’s just the tip of the iceberg!). Plus, there’s another 8 million earmarked for energy projects. So, you’re not just getting a loan; you’re now part of a grand, electrifying narrative—because who doesn’t want to be a hero in the saga of renewable energy?
Time to Apply!
So, how can our lovely small businesses get in on this action? Well, mark your calendars, folks! Starting November 18, 2024, at 10:00 AM, the applications open. And fear not—if you’re the organized type, you can start pre-filling those applications as early as November 8. It’s like putting the finishing touches on the perfect carbonara before serving it up!
What’s This ‘Basket Bond Lazio’ Thing?
Ah, and while we’re at it, let’s introduce the “Basket Bond Lazio”— an inventive approach that allows businesses to issue minibonds simultaneously. It’s a bit like hosting a potluck dinner where everyone brings their own dish but in this case, the ‘dishes’ are funding opportunities to help your business grow. With a whopping 40 million euros promised for the next round of these bond issues, this should get every entrepreneur in the region salivating!
Closing Statements
Now, as I wrap up this financial fable, remember that the Lazio Region isn’t just about sun-kissed beaches and pasta. It’s about helping your enterprise sprout like a vine outside a trattoria! Roberta Angelilli neatly summed it up, declaring, “we are working on an agreement with the EIB to allocate 120 million euros to companies in Lazio.”
So raise your toast to the New Small Credit Fund and the Basket Bond Lazio. They’re not just capital measures; they’re your ticket to financial viability wrapped in the charm of Italian bureaucracy—deliciously convoluted but oh-so-rewarding!
ROME – The Lazio Region has announced the launch of the second 2024 window of the “New Small Credit Fund,” a significant financial initiative aimed specifically at micro, small, and medium-sized enterprises facing financial challenges. This fund provides financial solutions for companies in need of support, with loan amounts reaching up to 50 thousand euros. Additionally, the regional authorities offered insights into other strategic measures designed to enhance business financing and guarantees, notably the innovative “Basket Bond Lazio.” This initiative promotes alternative financing approaches alongside traditional bank credit, thereby encouraging entrepreneurial growth.
The meeting convened in the Tiber Room of the Lazio Region, featuring key participants such as Roberta Angelilli, the vice-president of the Lazio Region and councilor for Economic Development, alongside several influential representatives from various sectors. The audience included Marco Bertucci, president of the Budget Commission, and Enrico Tiero, who heads the Economic Development and Productive Activities Commission. Other notable attendees were Tiziana Petucci, the managing authority for the PR FESR Lazio 2021-2027, and representatives from major financial institutions, emphasizing a strong collaboration between government and finance sectors.
The new window of the “Small Credit Fund” is backed by a substantial allocation of 36.3 million euros, financed by the POC Program 2014-2020 and the PR FESR Lazio 2021-2027. This initiative specifically targets Micro, Small and Medium Enterprises (MSMEs), business networks, and freelancers, offering them zero-interest loans over a five-year term, which includes a 12-month grace period. Eligible businesses can acquire loans ranging from a minimum of 10 thousand to a maximum of 50 thousand euros, ensuring manageable repayment through constant monthly installments.
The financeable projects encompass a wide array of business activities aimed at enhancing operations, launching innovative initiatives, expanding into new markets, and supporting company development. Interested parties must submit their applications online via the farelazio.it portal starting from 10:00 am on 18 November 2024, until funds are fully allocated. To streamline the process, businesses can pre-fill and sign their applications on the platform from 10:00 am on 8 November 2024.
The previous openings of the “Nuovo Fondo Piccolo Credito” have successfully financed nearly twelve hundred companies with over 37 million euros, further complemented by approximately 8 million euros allocated for energy-related projects. During the meeting, officials also discussed the progress of the FARE LAZIO program’s “Basket Bond Lazio,” which is aimed at fostering innovative financing methods. This initiative represents a collective effort where companies collaborate to issue minbonds with shared characteristics, creating a unified portfolio and addressing the need for alternative funding sources.
The “Basket Bond Lazio” is structured by a Temporary Grouping of Companies that includes Mediocredito Centrale, Banca Finnat Euramerica, and various financial entities appointed by Lazio Innova to manage this innovative financial tool. This collaboration has led to the issuance of public portfolio guarantees, significantly improving the financial conditions for participating companies. With the initial closing achieved, seven Lazio-based companies have issued minibonds totaling 16 million euros, tapping into alternative resources to bolster their investment projects. These minibonds are supported by a special purpose vehicle that funds itself through Asset Backed Securities (ABS) placed with institutional investors.
“In collaboration with the partners involved in the ‘FARE LAZIO’ program, we aim to further bolster our support for businesses’ access to credit,” declared Roberta Angelilli. She emphasized the effectiveness of a comprehensive set of measures that have provided vital support to businesses over the past year, catering to various financial needs—from small, zero-interest loans to more sophisticated financial instruments that enhance capital diversification.
“Nuovo Fondo Piccolo Credito confirms itself as a tool for the benefit of a target primarily composed of micro-enterprises that have difficulty accessing credit,” commented Tiziana Petucci, underlining the significance of favorable loan conditions.
“The results presented today affirm that more companies are opting for alternative financial instruments to support their growth projects,” highlighted Andrea Nuzzi, showcasing the growing trend of businesses seeking innovative financing options outside conventional banking channels.
“Our commitment and that of the entire RTI will be to promote access to this financial instrument which represents a real opportunity for the development of the regional economy,” emphasized Massimo Maccioni, directing efforts towards enhancing the financial landscape for local businesses.
**Interview with Roberta Angelilli: The New Small Credit Fund and Its Impact on Entrepreneurs in Lazio**
**Editor:** Good morning, everyone! Today, we have the pleasure of speaking with Roberta Angelilli, the Vice-President of the Lazio Region and a key player in launching the “New Small Credit Fund.” Roberta, thank you for joining us.
**Roberta Angelilli:** Good morning! It’s a pleasure to be here and talk about this exciting initiative.
**Editor:** Let’s dive right into it! The New Small Credit Fund has garnered a lot of attention. Can you tell us a bit about its purpose and who it aims to help?
**Roberta Angelilli:** Absolutely! The New Small Credit Fund is designed specifically to assist micro, small, and medium-sized enterprises (MSMEs) that are facing financial challenges. We want to empower our local entrepreneurs by providing them with loans up to 50,000 euros at a zero percent interest rate—this is a fantastic opportunity for businesses struggling to finance new projects or expand their operations.
**Editor:** That sounds incredibly beneficial! And what about the repayment terms?
**Roberta Angelilli:** We’ve structured these loans to be as accessible as possible. There’s a 12-month grace period followed by a repayment plan over five years, which means businesses can manage their cash flow effectively without immediate financial pressure.
**Editor:** Great! You mentioned that this is the second window for the fund. How successful has the first round been?
**Roberta Angelilli:** It has been very successful! In the previous iterations, we supported nearly 1,200 companies with more than 37 million euros. These funds significantly aided our local economy, and we’ve earmarked additional resources, like the 8 million euros for energy projects, to support innovation in that crucial sector.
**Editor:** Speaking of innovation, I’ve heard of the “Basket Bond Lazio.” Can you explain how this complements the New Small Credit Fund?
**Roberta Angelilli:** The “Basket Bond Lazio” is a collective funding initiative that allows businesses to issue minibonds collectively. This tool enhances access to alternative financing, providing another layer of support for entrepreneurs who may not want to rely solely on traditional bank credit. It’s like a collaboration among businesses to strengthen their funding options together.
**Editor:** That’s a unique approach! Application deadlines can often be a bit daunting for entrepreneurs. What can you tell us about the timeline for this fund?
**Roberta Angelilli:** We’ve streamlined the process! Applications will open on November 18, 2024, starting at 10:00 AM. For those who like to be prepared, they can pre-fill their applications starting on November 8. We want to make the process as smooth as possible so that our entrepreneurs can focus on what they do best—growing their businesses.
**Editor:** Roberta, thank you for your insights! It sounds like the Lazio Region is doing fantastic work to foster entrepreneurial spirit and innovation. Any final words for our entrepreneurs out there?
**Roberta Angelilli:** I encourage all eligible businesses to take advantage of these opportunities! They are not just financial measures; they are a commitment to our local economy and the future of entrepreneurship in Lazio. We believe in our businesses, and we want to see them thrive!
**Editor:** Thank you, Roberta, for sharing this valuable information. We wish you the best of luck with the New Small Credit Fund and the Basket Bond Lazio initiative!
**Roberta Angelilli:** Thank you! It was a pleasure discussing these programs with you.
