More liquidity for Lombard concerns

From January 29 Regione Lombardia will make available 500 million euros to give liquidity to all companies with registered operational headquarters in Lombardy that claim receivables from other Italian companies.

The new B2B line-Cash Credit has a ceiling of 500 million euros and is divided into two “sub-measures”.
Sub-measure A - Liquidity to micro, small and medium enterprises (MSME) which via a Guarantee Fund  facilitates the access of micro, small and medium enterprises in Lombardy to loans directed to realization of trade receivables (current and future) owed by  other companies and granted by financial intermediaries participating in the undertaking. The ceiling is 200 million euros and the Guarantee Fund amounts to 20 million euros;
Sub-measure B - Liquidity to large companies that facilitates the liquidation of trade receivables demanded by large businesses in Lombardy fromother companies, through a Contributive Fund for reducing costs related to non-recourse factoring transactions made with the intermediaries participating in the undertaking. The ceiling is 300 million euros and the Contribution Fund (shared with the Credito In-Cassa undertaking) stands at 9.5 million euros. In addition, for companies that have undersigned the “Italian Code  for Responsible Payments”, there is a reduction of 1.25% compared to the 0.75% secured in other cases.
See website www.regione.lombardia.it,  for info to large enterprises, to MSMEs and to Finlombarda SpA brokers, Finlombarda SpA being the body appointed by Regione Lombardia to manage the proceedings under the measure.