The Italian fintech company Credimi closed a $37.8 million (€32 million) securitization, the securities of which were fully subscribed by Banca Sella. The proceeds will go to feed a ceiling of loans provided directly by Credimi in favor of Italian SMEs based in Italy. The latter will be able to apply for loans with a maximum duration of 5 years with a repayment start scheduled for 2021.
The procedure for making the request is completely digital and available 24/7, with a response in 3 working days. The loans will be guaranteed by the Guarantee Fund for a minimum percentage of 90%, in accordance with the provisions of the Liquidity Decree.
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This is not the first agreement between Credimi and Banca Sella
The signing of the securitization strengthens the partnership between Banca Sella and Credimi, which last May signed an agreement for the loan to SMEs, called Liquidity 100. Thanks to this partnership, Banca Sella can guarantee its customers, who carry out economic activities falling within the perimeter provided for by the Liquidity Decree, even faster times for the management of the loan applications provided for by the decree, which provides for the possibility of requesting a loan up to $29,600 (€25,000) or in any case not exceeding 25% of 2019 revenues, with coverage of the guarantee fund of 100%.
“Transactions like the one signed by Credimi and Banca Sella are always a virtuous example of how the various financial actors can work together to improve this country. Credimi has recently reached one billion disbursements, an extremely important milestone for us, made possible also thanks to innovative partners such as Banca Sella who have chosen fintech