Intesa Sanpaolo with Federturismo, Confindustria Alberghi and Federterme for the relaunch

In support of the revitalization of the tourism industry, Intesa San Paolo has signed an agreement with Federturismo, Confindustria Alberghi and Federterme. The goal is to develop a series of solutions that allow companies to overcome the long period of difficulty, safeguarding employment and laying the foundations for recovery. Companies represented by their respective Federations will have access to the following extraordinary measures:

• suspension of existing medium-long term loans for up to 24 months, addressed only to the tourism-hotel sector for the sole capital portion or for the entire installment, and which can be requested by 2020, September 30th as an alternative to the statutory moratorium envisaged by the DL Cura Italia;
• new loans for businesses throughout the country to support the management of working capital, declined through credit lines additional to the existing ones, in the formula of 18 months -1 day, with six months of pre-amortization;
• liquidity support for Intesa Sanpaolo customers, and among these the associated companies, thanks to credit lines already approved in their favor and now made available for broad and flexible purposes, such as the management of urgent payments;
• solution for investments and liquidity through medium-long term loans, lasting up to 72 months and with a pre-amortization that can go up to 36 months.

Intesa Sanpaolo and the Federations have also decided to start immediately a series of working groups to identify the best tools – not only financial ones – to accompany companies to support their immediate relaunch. The banking institution will provide concrete support through the activation of tailor-made loans for the construction, expansion and improvement of tourist facilities, as well as offering seasonal short-term credit openings for liquidity needs, repayable also through the collections deriving from the POS operations.

Intesa Sanpaolo will also make available a new insurance solution from the newly formed company Intesa Sanpaolo RBM Salute, to better protect against virus contracting; and, for the thermal sector, access to advanced financial engineering tools managed by the European Investment Bank (EIB).