Ebury authorised to provide SME funding under Italian Government's coronavirus guarantee scheme

Wednesday 29 April 2020 09:18 CET | News

Ebury is the first non-bank financial institution to be granted approval to provide SMEs with loans under the Italian government’s guarantee scheme “Garanzia Italia”.

The scheme, which is available to Italian businesses with less than 5,000 employees and EUR 1.5 billion turnover, provides government guarantees to cover up to 90% of the loan value.

Ebury’s participation follows the company’s announcement of the initiative to offer financing to SMEs in the UK and Europe amidst the coronavirus crisis. An initial GBP 40 million lending facility to help SMEs manage their working capital during the coronavirus crisis has already been launched. Earlier this month, Ebury was approved by the Dutch and Spanish governments’ coronavirus business aid schemes. It is also currently going through the approval process in the UK and other countries.

Ebury enables cross-border transactions for companies, institutions, and banks and their clients, that want to trade internationally.

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Keywords: Ebury, SME, funding, lending, coronavirus, Garanzia Italia
Categories: Banking & Fintech
Countries: Italy
This article is part of category

Banking & Fintech

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