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Borsa del Credito and Confesercenti signed agreement to provide SMEs with rapid access to loans

Borsa del Credito entered into a partnership with Confesercenti with the goal of providing SMEs in Italy with rapid access to digital credit. Two types of loans will be available, a basic line and the Cash Anti COVID-19 Phase2. Borsa del Credito is specialized in micro and SME credit, and has so far disbursed more than $90.8 million (€80 million) to more than 25,000 corporate clients.

Desmond O'Flynn

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Borsa del Credito, the Italian fintech platform dedicated to loans to SMEs, owned by P101 sgr, Azimut Group and GC Holding, has signed an agreement with Confesercenti Nazionale to provide SMEs with rapid access to digital credit

The agreement involves the companies of the Confesercenti System ATS srl and CoSviG, which will be able to benefit from a significant streamlining of bureaucratic procedures and, therefore, also from time savings. For the management of funding requests and for the formal verification of the same, ATS and CoSviG staff has been trained by Borsa del Credito and accredited for access to the platform in order to provide the network and Confesercenti territorial structures with the maximum technical, practical and consulting support.

Read more about the agreement between Borsa del Credito and Confesercenti and be the first to find out the most important finance news with our companion app, Born2Invest.

Two types of credits for SMEs

Requests may concern two types of financing: basic, with an amount from $56,800 to $568,000 (from €50,000 to €500,000), with a duration between 12 to 60 months; Cash Anti COVID-19 Phase 2, long-term financing of up to 6 years’ duration, including 12 months of pre-amortization, with an amount from $56,800 to 568,000 (from €50,000 to €500,000) and personal guarantee or Guarantee Fund.

“We believe that the path of collaboration is the best way to really innovate the world of finance and make it more efficient and functional to the needs of the real economy, especially in these months of uncertainty following the health emergency. This agreement is also part of the evolution that we have been undertaking for some time now, which sees the company expanding by itself to include credit providers and technological enablers for traditional finance,” explained Antonio Lafiosca, Group coo of Borsa del Credito.

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Confesercenti said: “This agreement with a partner as prestigious as Borsa del Credito will allow us to streamline the procedures for access to credit and to provide rapid and timely responses to our companies, also in light of the particular moment that the country is going through. Small and micro-enterprises are those with the greatest difficulties in accessing credit: for this reason, as Confesercenti we are working to expand the range of instruments that provide liquidity to this business world so that it can have a concrete basis on which to build a new start.”

Borsa del Credito was founded in October 2013 by Antonio Lafiosca, Alessandro Andreozzi and Ivan Pellegrini as a digital brokerage platform for credit to companies and in 2015 it opened its P2P lending channel. Specialized in micro and SME credit, it boasts over 25,000 corporate clients, 4,000 lenders and more than $90.8 million (€80 million) disbursed. 

Borsa del Credito is controlled by the holding company Business Innovation Lab spa, which 100% controls two other companies: Mo.Net spa, authorized to perform peer-to-peer lending services; and Art sgr spa, which manages alternative investment funds reserved for professional investors who invest on loans offered on the platform. In particular, ART sgr manages the Colombo fund, launched in October 2017 with the support of the same shareholders of Borsa del Credito, and the Systema Credit Fund, launched in April 2019 by Confidi Systema! and Prader Bank.

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(Featured image by mlproject via Pixabay)

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

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Desmond O’Flynn believes in minimalism and the power of beer. As a young reporter for some of the largest national publications, he has lived in the world of finance and investing for nearly three decades. He has since included world politics and the global economy in his portfolio. He also writes about entrepreneurs and small businesses, as well as innovation in fintech, gambling, and cannabis industries.