DL 8 April 2020, n. 23
The Legislative Decree of 8 April 2020, n. 8 (so-called liquidity decree), containing urgent measures regarding access to credit and tax obligations for companies, special powers in strategic sectors, as well as interventions in the field of health and work, extension of terms
administrative and procedural.
The decree intervenes in support of companies in difficulty with specific measures aimed at favoring access to credit, support for liquidity, exports, internationalization and investments.
The measures adopted provide for guarantees from the State for a total of approximately 200 billion euros granted through the company SACE Simest, of the Cassa Depositi e Prestiti group, in favor of banks that provide loans to businesses in any form.
In particular, the guarantee will cover between 70% and 90% of the financed amount, depending on the size of the company, and is subject to a series of conditions including the impossibility of distributing dividends by the company. beneficiary for the following twelve months and the necessary destination of the loan to support expenses for production activities located in Italy.
For small and medium-sized enterprises, including individuals or VAT numbers, 30 billion is reserved and access to the guarantee issued by SACE will be free but subject to the condition that they have exhausted their capacity to use the credit issued by the Central Guarantee Fund. .
The decree further strengthens the Guarantee Fund for SMEs, increasing both its financial endowment and its ability to generate liquidity also for companies up to 499 employees and professionals.