Finlombarda Spa, the financial institution of Lombardy Italian region, supports the relaunch of Lombardy economy through the Italian alternative financing initiative “Credito F.A.C.I.L.E.”.
This acronym means “simple” in Italian and this initiative addresses the liquidity requirements of the region SMEs in a simple way.
Finlombarda asserts its willingness to support the real economy by investing € 15 million in the October SME IV fund.
October will deploy at least an equal amount to support SMEs in the Lombardy region.
Finlombarda’s investment
Finlombarda’s investment of € 15 million is in addition to the € 150 million raised from several European institutions.
October enables companies in France, Italy, Spain, the Netherlands and Germany to access rapid financing to complement the traditional banking system through a hybrid system of institutional investors and private lenders.
It is a further proof of the confidence of European institutions in the October technology, which offers them an innovative investment model that is closer to the real economy.
Michele Vietti, Chairman of Finlombarda Spa:
“Credito F.A.C.I.L.E. is a concrete example of how synergetic action between all the players in the financial ecosystem is the right way to relaunch the economy of our region, using financial instruments that are complementary to traditional financing.
Among those already active at Finlombarda are Minibond in partnership with other institutional investors and ELITE Basket Bond Lombardia in co-partnership with CDP.”.
Sergio Zocchi, CEO October Italy:
“October’s commitment to supporting SMEs and the real economy continues with this initiative.
A strategic partner such as Finlombarda allows us to make available to Lombardy companies not only financial resources but also experience and technology, creating the conditions for a fruitful collaboration between institutional and private actors for the benefit of companies”.
About Finlombarda Spa (www.finlombarda.it) is the in-house public financial institution 100% owned by Lombardy Region. It has been contributing to the realization of regional economic development programs in Lombardy since 1971.It offers financing opportunities to companies, professionals and public administrations through soft loans and grants and structured finance (minibonds, project financing, leverage financing, acquisition financing, turnaround investing, etc.) – with its own resources, those of the Lombardy Region and the European Union. It operates both as the sole lender and in partnership with other financial intermediaries and institutional investors with the aim of promoting the leverage effect between public and private finance to the benefit of the final recipients of the initiatives. It supports Regione Lombardia in structuring financial operations in strategic areas for the attractiveness and competitiveness of the territory.