SACE-CREVAL agreement: € 100 million for the internationalization and innovation of Italian companies

Credito Valtellinese (CREVAL) and SACE (CDP Group) have finalized a major new agreement that provides CREVAL customer companies with € 100 million in new loans to support innovation and growth abroad as part of the “2i per l’Impresa – Innovation & Internationalization” program developed by CDP (as the national agency to promote the Juncker Plan), SACE and EIF (EIB Group).

Under this agreement, SMEs and small mid-caps (up to 250 million in sales and 499 employees) whose exports account for at least 10% of  revenues can apply to the branches of CREVAL to request loans, guaranteed by SACE, to support their working capital and investment requirements earmarked for expanding into foreign markets or increasing their exports.

The unsecured seven-year loans may range in amount from € 50,000 to € 7.5 million with up to 80% guaranteed by SACE.

The loans may be utilized to finance investments in innovation and internationalization, such as the upgrading of machinery and technological equipment, the protection of “Made in Italy” label and registration of patents, promotions, advertising and trade show participations, the purchase of equity interests, and the creation of joint ventures.