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Banca Sella signed an agreement with the fintech company Credimi

Banca Sella and the Italian fintech company Credimi have signed an agreement for the financing of SMEs Liquidity 100. Individual companies that are clients of Banca Sella will be able to apply for this loan directly from the bank’s internet banking, without going through the branch and without submitting any form or paperwork. Last month, Credimi entered into a partnership with Generali.

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Thanks to the partnership with Credimi, Banca Sella will be able to guarantee its customers, who carry out economic activities within the perimeter provided for by the so-called Liquidity Decree, even faster times for the management of the loan applications provided for by the Decree. That offers the possibility to apply for a loan up to $27,300 (€25,000) or in any case not exceeding 25% of 2019 revenues, with the coverage of the guarantee fund of 100%.

If you want to find more about the partnership between Banca Sella and Credimi and to read the latest financial news, download for free our companion app Born2Invest.

Credimi’s system will automatically process loans requests

Individual companies that are clients of Banca Sella will be able to apply for this loan directly from the bank’s internet banking, without going through the branch and without submitting any form or paperwork. The application will be taken care of by Credimi’s systems, which will process the request almost automatically, interfacing digitally with the central guarantee fund, without any burden for the customer, excluding the signatures (all digital) required by law.

The answer will arrive in a few days and the disbursement will take place immediately after the issue of the guarantee.

“The agreement with Credimi is part of the initiatives that our Bank has put in place in recent weeks to support the economy and customers in difficulty due to the COVID-19 emergency. In particular, with respect to the loan applications provided for in the Liquidity Decree, we have organized ourselves to guarantee our customers rapid handling of requests both internally and through the strategic partnership with Credimi. This organization allows us to respond to customers’ needs and process requests in the shortest possible time,” said Andrea Massitti, Head of Corporate and Small Business at Banca Sella.

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“The operation signed by Credimi and Banca Sella is a virtuous example of how the various financial players can work together to improve this country. An effective collaboration that frees up liquidity, in the most effective and fastest way possible, for that group of smaller companies, with fewer resources available and therefore more affected by this health and economic emergency,” stressed Ignazio Rocco di Torrepadula, founder and CEO of Credimi.

Credimi also entered into a partnership with Generali

At the beginning of April, Credimi structured the securitization Italianonsiferma, with Generali, through its Extraordinary International Fund launched to face the coronavirus emergency. The fund will be anchor investor of the junior tranche, with a share of $11 million (€10 million) on a final target of $109 (€100 million).

In early 2020, Credimi launched Credimi Capitale Umano, a financing formula to support the growth of SMEs and employment, launched in partnership with Openjobmetis, the employment agency listed on the Star segment of Borsa Italiana. Last March, on the other hand, the fintech company launched Credimi Start, a new financing product dedicated to very small companies and startups, to help them overcome the difficult market situation created by the coronavirus pandemic.

Founded by Ignazio Rocco di Torrepadula, former senior partner of BCG, together with a team of young people with technological and financial experience, Credimi is a fintech startup that has so far raised over $19.7 million (€18 million) of capital from investors in two different rounds. The first $8.7 million (€8 million) in two successive rounds closed in February 2016 by well-known entrepreneurs and finance professionals, and the other $11 million (€10 million) in September 2018, led by UV2 (United Ventures sgr) and Vertis Venture 2 Scaleup (Vertis sgr).

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First published in BeBeez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Leah Marie Angelou is an LGBTI activist and equality advocate. She has been a writer for several feminism-focused groups for nearly a decade. Her pieces are often focused on career development and the workplace. She also regularly covers personal and micro-finance, business management and entrepreneurship. Recently she has also focused on covering the promising CBD and hemp industry.