SIMEST, an Italian company that supports other companies, will reopen the portal on 3 June 2021 to apply for new funding. These contributions are addressed to companies that want to expand or consolidate their activities abroad. Intending to support internationalization, SIMEST makes these contributions partly nonrepayable. Let’s see below in detail who they are aimed at and what are the advantages.
Nonrepayable financing: benefits
Nonrepayable financing: SIMEST focuses mainly on certain specific activities which will all benefit from a range of benefits and benefits, such as:
- a preferential interest rate at the moment (May 2021) equal to 0.055%
- possibility of covering up to 100% of expenses
- possibility of obtaining an early payment of 50%
- no guarantee required for those who apply by 30/06/2021
- nonrepayable co-financing up to 25% of the amount disbursed (previously this threshold was set at 10%)
- opening of a dedicated current account
Nonrepayable financing: who can apply
SIMEST’s financing is mainly targeted at the following activities with a maximum amount limit and certain different conditions for each sector of activity.
Pre-feasibility/economic-financial or market feasibility research
For an amount not exceeding:
€ 200,000 for studies linked to commercial investments;
€ 350,000 for studies linked to productive investments.
To be returned in 4 years (one of which is a grace period) and with a limit of 12.5% of the average turnover of the last two years.
Technical assistance programs
For the support of expenses related to training of foreign personnel on-site, for an amount not exceeding € 300,000. To be returned in 4 years (one of which is a grace period) and with a limit of 12.5% of the average turnover of the last two years.
Commercial development
Among the costs of these activities are MET services (expenses strictly related to the implementation of the project developed with the assistance of MET) Temporary Digital Marketing Managers, Temporary Innovation Managers, etc., can also be considered MET. provided that services are linked to internationalization processes. MET services can be provided by both Italian and foreign companies provided that they meet the requirements of the legislation.
The amount, in this case, must be a minimum of 25,000 and a maximum of 150,000 €. To be returned in 4 years (of which 2 of pre-application) and with a limit of 15% of the average turnover of the last two years.
Opening an E-commerce or positioning on a Marketplace
The eligible amount must be at least € 25,000 and a maximum of € 300,000 for use of the Markt Place and a maximum of € 450,000 for a platform of its own. To be returned in 4 years (one of which is a grace period) and with a limit of 12.5% of the average turnover of the last two years.
Opening of a showroom, a point of sale, an after-sales service center, or a permanent representation
In this case to be returned in 6 years and within the limit of 25% of the average turnover of the last two years. The eligible amount must be at least € 50,000 and a maximum of € 4,000,000. To be returned in 6 years (2 of which are pre-approved) and with a limit of 25% of the average turnover of the last two years.
Participation in fairs or promotional events
However, for an amount not exceeding EUR 150000 per SME. To be returned in 4 years (one of which is a grace period) and with a limit of 15% of the average turnover of the last two years.
The company may submit several funding applications, each application must relate to a single initiative in a single country. The application must be submitted before the scheduled date of the start of the fair/exhibition.
Regeneration of the wealth of SMEs and exporting midcaps
Provided that they have achieved 35% of their turnover abroad at least in the last year. The maximum allowable financing is Euro 800,000 within the limit of “de minimis” and within the limit of 40% of the equity of the applicant company. To be returned in 6 years (of which 2 of pre-application) that will be delivered in a single solution.
Opening or expansion of a production unit in non-EU countries
In this case, through the intervention of Simest (on own account and from the Venture Capital Fund) in the share capital of the foreign company up to a maximum of 49%. In this transaction, the Italian company may also obtain an interest subsidy on the bank financing that may be required to subscribe to its share in the share capital of the foreign company. The facility covers 90% of the Italian share in the capital of the foreign company up to 51% of the capital of the latter. The participation of Simest and the Venture Capital Fund must be bought back by the Italian company within 8 years.
SIMEST financing
However, obtaining this non-repayable business financing is not limited to the activities listed above. Therefore it is convenient to request more information about the participation requirements.
