Reinforcing Med Microfinance Network System for Start-ups

Italy National Measures – Enterpreneurial Microcredit

Name of responsible organization: NATIONAL MICROCREDIT BODY (Pubblic Uthority)
Starting year2011End yearopen
Short description Microcredit is a financial instrument that aims to respond to the financial inclusion needs of those who have difficulty accessing traditional credit because they do not have sufficient guarantees. It is not simply a small loan, but an integrated offer of financial and non-financial services. What distinguishes microcredit from ordinary credit is the attention to the person, which translates into welcoming, listening and supporting the beneficiaries from the pre-disbursement phase to the post-disbursement phase, as well as the particular attention paid to the validity and to the sustainability of the project. The microcredit tool, in the form of “entrepreneurial microcredit”, is aimed at all those who intend to start or develop a micro-enterprise or self-employment activity and/or who have difficulty accessing bank credit.

What kind of activity does this measure finance?  
Creation of new businessesYes
Strengthening of existing businessesYes
Specific investments – specify type (i.e. innovation, research, environmental transition, hiring, internationalization, purchase of goods)No
Training activitiesYes (TUTORING)
Other (specify)– Purchase of goods (including raw materials necessary for the production of goods or services and goods intended for sale) or services related to the business;
– Payment of salaries of new employee worker members;
-Sustain costs for corporate training courses;
– Recovery of working capital;
– Liquidity operations;
– No debt restructuring.
  What type of financing is it?  
Low-interest loan (indicate the repayment time and, if present, the requirement for collateral)
Non-repayable grant (indicate the percentage of non-repayable fund)Yes/No If Yes, percentage of non-repayable fund:
Tax creditNo
Other (specify)
How does the activation of the measure work? One-stop means 
Financial entity of the measure  
% facilitation for each recipientMaximum amount €40,000.00, which can become €50,000.00 if the last 6 previous installments have been paid on time and if the development of the financed project is in line with the achievement of the expected results. Public guarantee from the Guarantee Fund for SMEs (80% of the financed amount).   The Bank may request further personal guarantees (not collateral) only in relation to the part not covered by the public guarantee.
* The request for access to microcredit is totally free until the loan is disbursed.
* Subsequently, where provided for by the agreement with the bank, the amount relating to 1% (one percent) of the disbursed sum will be retained by the bank, upon disbursement and transferred to the tutor in charge of auxiliary services.*
Minimum amount that can be financed
Maximum amount that can be financed50.000 euro
Origin of financial resources (European, State, Regional authority, Municipal authority, other)State/banks
Type of funded social structure (indicate if belonging to a specific category is required in order to access the measure)   

FemaleOver 50Unemployed (specify any type)Disadvantaged groups (specify type)Youth (specify age range)Other (specify)
Self-employed workers with a VAT number for no more than 5 years and with a maximum of five employees;
Company – Sole proprietorships with a VAT number for no more than 5 years and with a maximum of five employees;
– Partnerships, partnerships between professionals, s.r.l. simplified and cooperative companies, VAT registered for no more than 5 years and with a maximum of 10 employees.
Does the measure provide for accompaniment and training or only financial support?  
Is the measure considered a good practice and as such replicable in other national and / or international contexts?
C) How many initiatives have been financed in the last 3 years and for what economic amount?    
Number of initiatives 10.000Total economic amount 50 MLN 
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