Rome, 5 May 2017 - In April 2017 SIMEST, the company that together with SACE is the export and internationalisation of the CDP Group, has provided financing to 20 Italian companies for commercial operations in 9 countries: Albania, Canada, China, Egypt, United Arab Emirates, India, Indonesia, Mexico and the United States.
The loans, totalling over €6 million, were granted under various programmes: 3 feasibility studies, 7 participations in trade fairs and exhibitions, 4 SME capitalisation initiatives and 6 entries in non-EU markets. Among the enterprises benefiting from the latter:
- Pantofola d'Oro Spa, a company based in Ascoli that began its activity in 1886 as a shoemaker's shop. Currently known for football shoes and sports shoes, entirely designed and manufactured by hand in Italy, generates 70% of its turnover on international markets, including the United States and Japan. Thanks to the SIMEST loan of €1.28 million, Pantofola d'Oro will strengthen its commercial presence in the United States by opening a showroom in New York to sell “1886 line” (fashion shoes).
- Agria Spa, based in San Giuseppe Vesuviano (province of Naples), is a food company specialising in the packaging and marketing of dried and cooked pulses and cereals (“Select” and “Poppy” brands). Thanks to a SIMEST loan of €0.655 million, it will open a representative office in Dubai and will participate in the GulFood trade fair, the most important event in the sector in the country.
The “Entering non-EU markets” programme: SIMEST financing for penetrating non-EU markets are soft loans (equal to 10% of the EU reference rate) that facilitates the entry of Italian companies onto new markets, financing the construction of commercial facilities (offices, showrooms, shops) and related promotional expenses. They cover up to 100% of expenses and have a term of up to 6 years. By accessing this tool, companies can also benefit from another SIMEST instrument, the Sustainable Growth Fund, which reduces the guarantees necessary to access financing.
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SIMEST is part of the CDP Group, 76% controlled by SACE and invested in by leading Italian banks and business associations. SIMEST and SACE form the export and internationalisation hub of the CDP Group, which offers all the 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.