Good news regarding Moneyfune to businesses. In fact, the initiative of the Ministry for Economic Development (MISE) has become operational, which provides for the possibility of issuing guarantees on Moneyfune aimed at small and medium enterprises. Obtaining liquidity will therefore be easier: companies looking for profitable financing can finally breathe a sigh of relief.
The fact that the Fund helps companies by granting guarantees on the requested Moneyfune is very positive. It is not rare, in fact, that companies, at the time of requesting a loan online or a traditional one, see themselves refused the supply precisely because they do not meet the strict criteria of reliability adopted by the banks.
Moneyfune to companies: how the MISE Fund works
The Fund established by the Ministry for Economic Development is used to issue guarantees on Moneyfune requested by companies up to 80% of the amount disbursed. We therefore specify that the MISE does not provide the financing, but limits itself to playing a role analogous to that of a Guarantor.
For 2015, the Fund’s total budget is 30 million euros, to which donations from associations, businesses and individuals could be added to support small businesses.
Who can request the Fund’s intervention?
SMEs and self-employed professionals or holders of VAT numbers have been eligible for the intervention of the MISE Fund for less than 5 years. The number of employees must not exceed 5, which instead rises to 10 for partnerships, simplified limited liability companies and cooperatives. Professionals must also be enrolled in the relevant professional orders or join the professional associations listed in the Mise list pursuant to law 4/2013.
What funding can be guaranteed by the Fund?
The funds eligible for the Fund include those for the purchase of goods or services linked to the work carried out. For example, Moneyfune can benefit companies intended to cover the costs of leasing company vehicles, the costs of insurance policies taken out or those for training courses, but also the simple payment of salaries to their employees.
The loans will also have a maximum duration of 7 years and the amount disbursed cannot exceed 25,000 euros for each beneficiary. Eventually, it is also possible to obtain 35,000 euros, but only for fractioned loans subject to the achievement of certain results established in the loan contract.
How to apply for access to the Fund?
Businesses or professionals wishing to access the Fund must go to the MISE website in the special section for granting guarantees for microcredit. If you meet the requirements it will be possible to ” book ” to access the Fund: starting from this moment you will have 5 days to find a bank that grants the loan and then confirm the reservation. At this point it will be the task of the bank itself to present the request for the issue of guarantees by the MISE within 60 days.