SELLA INNOVATION LOAN FOR SMES AND MIDCAPS

Promoter – Financial Intermediary

BANCA SELLA HOLDING SPA,BANCA SELLA SPA

Location

• Italy

Description

The project consists of multi-beneficiary intermediated loan (MBIL) to finance eligible projects carried out by small and medium sized enterprises (SMEs) and Midcaps in Italy.

Additionality and Impact

This intermediated operation with Banca Sella eases financial constraints for SMEs and MidCaps in Italy and is also expected to support innovation (min. 30%) and companies which are located in cohesion regions in Italy (min. 20%). The operation addresses the failure in financial markets for SMEs and MidCaps arising from limited access and/or high cost of financing charged by creditors as a result of information asymmetries, lack of collateral and imperfect screening and monitoring which is even stronger for innovative companies. The operation is expected to contribute to financing of smaller innovative companies in Italy which generate significant positive externalities through the creation of innovative processes, products or services, in alignment with the national plan "Transizione 4.0". Through EIB intervention, Banca Sella will benefit from more favourable financing conditions (e.g. lower pricing, longer maturity, grace period, etc) and from enhanced diversification of funding base.

Objectives

The aim is to enhance access to finance to the target beneficiaries and support eligible investments in innovation (at least 30%) and those located in cohesion regions (20%).

Sector(s)

• Credit lines - Credit lines

Proposed EIB finance (Approximate amount)

EUR 100 million

Total cost (Approximate amount)

not applicable

Environmental aspects

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Procurement

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Status

Signed - 4/07/2024