In the first quarter of 2017, SIMEST, a company of the CDP Group’s export and internationalisation hub, provided financing to 84 Italian companies for commercial operations in 25 countries: Australia, Brazil, Cameroon, Canada, China, South Korea, Cuba, Egypt, the United Arab Emirates, Ghana, Japan, India, Iran, Malaysia, Morocco, Mexico, Nigeria, Russia, Senegal, South Africa, Switzerland, Thailand, Tunisia, Turkey and the United States.
The loans, totalling approximately €36 million, met the different needs of companies in relation to the stage of their internationalisation process. There were 4 requests for funding to conduct feasibility studies, 36 for penetration of non-EU markets, 22 to strengthen the capitalisation of SMEs and 31 for participation in fairs and exhibitions. Among the enterprises benefiting from the latter:
- Novi Srl, an SME in the province of Salerno that has been operating for over 20 years in the food products industry, in particular tomatoes, pulses and fruit in syrup. It has a state-of-the-art logistics and goods handling centre that enables it to supply customers quickly. The SIMEST loan covers the costs of participation in SIAL Middle East, an important trade fair held in Abu Dhabi.
- Blutek Srl, active since 2002 in the province of Bergamo, designs and manufactures specialised compressors for most of the large companies in the oil & gas sector. Thanks to the SIMEST loan, it will participate in three major trade fairs in Abu Dhabi, Texas and Iran.
The “Participation in Fairs and Exhibitions” programme: SIMEST loans for participation in fairs and exhibitions offer a facilitated interest rate (equal to 10% of the EU reference rate) that allows Italian SMEs to finance expenses for exhibition stands, logistics, promotional efforts and consulting connected with participation in industry events in non-EU countries. Since March 2017 it has also been possible to use this tool to finance participation in the “System Missions” promoted by the Ministry of Economic Development and the Ministry of Foreign Affairs and organised by ICE, Confindustria and other institutions and trade associations. This loan covers up to 100% (up to a maximum of 10% of revenues in the previous financial year) of budgeted expenditures and has a term of 3.5 years. Moreover, no guarantees are required except for any financing exceeding the gross operating margin reported in the last financial statements of the company.
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SIMEST is part of the CDP Group, 76% owned by SACE, with leading Italian banks and trade associations among its other investors. SIMEST and SACE form the export and internationalisation hub of the CDP Group, which offers the entire range of financial instruments to support Italian companies interested in competing and expanding internationally. In particular, SIMEST supports companies throughout their entire international development process, providing soft loans for internationalisation, export credit support and equity investments