SIMEST: New financing for exporting companies with supplies from Ukraine and/or the Russian Federation and/or Belarus

Simest is making available the financing measure: 'Support for exporting companies with supplies from Ukraine and/or the Russian Federation and/or Belarus'. The financing is intended for companies exporting to any country with supplies from Ukraine and/or the Russian Federation and/or Belarus and which have suffered a drop in the same or an overall increase in the total cost of such supplies.

Beneficiaries

Italian SMEs and Mid Caps, incorporated as joint-stock companies, which

- have filed with the Companies Register at least three balance sheets covering three complete financial years have an average total export turnover in the three-year period 2019-2021 of at least 10% of the total average turnover in the three-year period 2019-2021

- have recorded, on the basis of the last three balance sheets (2019-2021), a minimum share of supplies from Ukraine and/or the Russian Federation and/or Belarus, compared to total supplies, equal to at least 5% (10% in the case of indirect supplies of semi-finished and finished products instrumental to the production cycle and in the case of mixed direct and indirect supplies)

- have experienced an increase in procurement costs, which, at the end of the financial year 2022, must be at least 20% of the average of the previous three years,

or have experienced a reduction in procurement quantities, which, at the end of the financial year 2022, must be at least 20% of the average of the previous three years.

Financing

Low-interest financing (zero-interest reimbursement) under the "de minimis" regime with non-repayable co-financing under the Temporary Crisis Framework, with the aim of coping with the negative impacts on exporting companies deriving from the difficulties or price increases in supplies following the ongoing crisis in Ukraine.

Maximum amount that can be financed: up to € 1,500,000 depending on the scoring class and the share of supplies to the three areas and in any case no more than 25% of the average revenues resulting from the last two financial statements approved and filed by the company.

Maximum non-repayable quota: up to 40% of the total facilitation intervention. The non-repayable co-financing share is granted, in any case, within the limits of the overall maximum amount of facilitation under the Temporary Crisis Framework, equal to € 400,000 per enterprise.

Duration of financing: 6 years, of which 2 years of pre-amortisation.

Request for Facilitation

When compiling the application, it is necessary to

- indicate the total foreign turnover figure recorded in each of the three years (2019-2021), attaching the underlying VAT returns;

- indicate the mode (direct/indirect), the type (raw materials/semi-finished/finished products) and the share of supplies from Ukraine and/or the Russian Federation and/or Belarus, attaching the affidavit by the auditor (for more details see Annex 1 to Circular 2)

- declare an increase in the average unit cost of Procurement (direct and/or indirect) from Ukraine and/or the Russian Federation and/or Belarus and/or alternative geographies of procurement at the end of the financial year 2022 equal to at least 20% compared to the average of the three-year period 2019 - 2021 and/or declare a reduction in the quantities of Procurements (direct and/or indirect), and to expect that, at the end of the financial year 2022, there will be a reduction in the quantities of Procurements (direct and indirect) from Ukraine and/or Russian Federation and/or Belarus, equal to at least 20% compared to the average of the three-year period 2019 - 2021.

Learn more here: SIMEST