16 October 2020

Facing the lockdown with #Italianonsiferma: Banca Generali’s contribution for Sudmotori

Our commitment to the real economy continues. This time with SudMotori, a SME from Salerno founded in 1996, which in March obtained a loan of € 500,000 with #Italianonsiferma.

During the last months, thanks to the collaboration with the fintech company Credimi we have made available to SMEs a series of loans to bring the private savings of customers to support the real economy represented here by SudMotori.

The company is an excellence in the field of engine adjustments with a complete production line: from the initial disassembly, cleaning and preparation of the various components to the final stage of assembly and specific operation and storage tests. All this for top-level customers of regional and national transport as Ferrovie dello Stato.

A reality that has seen its growth slow down following the Covid-19 emergency. Michele De Stefano, Business Developer at Sudmotori, said: "As soon as there were the first closures we needed to find a loan of over half a million euros, and if it hadn't been for #Italianonsiferma, we would not have been able to cope with this sudden braking."

Supporting the Italian economy

Thanks to #Italianonsiferma hundreds of SMEs have had overall access to 100 million euros of liquidity in the form of 5-year loans guaranteed by the State Guarantee Fund (90% ), with our parent company Generali which subscribed a 10% (10 million) share of the issue.

Andrea Ragaini, Deputy General Manager at Banca Generali, said: “In recent months we have been faced with stories like this that make us proud for two reasons. On the one hand we have verified that #Italianonsiferma has contributed to restarting important companies. On the other hand, we try to offer a quality service for the protection of our customers savings, looking at solutions that are not correlated with volatility risks such as these types of investments in private credit".