Access to finance
Access to EU finance
This site will help you to apply for finance supported by the European Union. To access EU finance, click on your country to locate banks or venture capital funds that provide finance supported by the EU:
National sources of finance
The Directorate General for Incentivising Business Activities (DGIAI) of the Ministry for Economic Development, coordinates and manages the support granted to businesses.
The DGIAI grants and provides financial assistance to businesses, in order to support important objectives of industrial policy, such as activities for research and development and technological innovation, interventions in industrial crisis situations, assistance in less developed areas and support for access to credit for small and medium-sized enterprises.
Actions taken by the Italian Government in support of business activities include a series of regulatory and implementation instruments:
Anti-crisis provisions; rules:
Other operations in support of companies:
Indirect business support
The Credit guarantee fund for small and medium enterprises is aimed at businesses in all sectors for all kinds of financing operation within the scope of their business activities. This state fund covers approximately 60% of the funding requested up to a maximum sum of 1.5 million euros.
Mezzanine finance or "subordinated debt", allows the access to credit through various channels other than banks. It is not very common in Italy and it is not specifically regulated by Italian law. This type of financing encounters compatibility problems with the rules of national law because the interest rates applied exceed the maximum rate threshold required by law.
Direct business support
Various companies have at their disposition funding plans, allocated to new businesses, to existing ones, to international expansion, to research and innovation.
To access the funds, investors must submit an application to INVITALIA, the National agency for inward investment promotion and enterprise development. The agency offers consultation services to companies.
Invitalia has various financing schemes:
Ministry for Economic Development provides different types of State incentives and financing for businesses. Financing may be in the form of tax credits.
Globus website of the Chamber of Commerce is an important tool for obtaining information about the different types of financing and tax concessions offered.
The Chamber of Commerce helps businesses to obtain information about the different types of incentives and tax relief schemes available. The full list of local offices can be found on the Chamber of Commerce website.
The Agency for the Promotion of European Research (APRE) provides information, assistance and support in relation to EU technological development and research and programmes.
Access to EU funding
State, regional and Chamber of Commerce subsidies can also be funded by community funds called Structural Funds. In accordance with practices implemented in the 2007-2013 National Strategic Framework, a funding programme is expected in 2014-2020, between Italy and the European Union, which is not definite yet. The aim of these funds is to enhance competitiveness and social cohesion.
General information on the financing granted by the EU to businesses is available on the European portal for small and medium-sized enterprises. On the website, one can find the various programmes, their objectives and the type of activities they support, in addition to detailed information and useful contacts for obtaining additional information and assistance in the different EU countries.
On the European Commission website Europa one can find published an updated list of all the available grants at community level.
Private Access to finance
Companies may make use of Banks to apply for loans to finance their activities.
Bonds are credit instruments, that is, loans granted by the investor to the company (or for a State, a government, an international organisation). When issuing a bond, the issuer commits to:
- repay the capital on expiry of the loan;
- make periodic payments calculated on a predetermined interest rate
A mortgage for small and medium businesses is a form of financing for fixed assets and covers various expenses, such as the construction or renovation of property, the purchasing of plants and machinery. It is normally accompanied by a class 1 mortgage indemnity guarantee (the asset does not have to have been mortgaged already) and stipulates a constant fixed rate of repayment for the whole period. These can be monthly, quarterly or half-yearly.
The Italian Private Equity and Venture Capital Association (AIFI), promotes, develops and represents in Italy venture capital and private equity. The list of organisations active in the Italian venture capital investment market is published on the association's website.
Business support organisations can advise businesses on how to find financing.
Website of INVITALIA, the National agency for inward investment promotion and enterprise development: