The guarantee fund for microcredit in Piedmont represents the development of experiences that are already present on the Region’s territory, in which Microcredito Sociale della Compagnia di San Paolo, created between 2003 and 2009, played a vital role.
The project involves the creation of a regional guarantee fund in order to favor the granting of credits aimed at supporting entrepreneurial activities and the activity of the self-employed for non-bankable clients, that is, those clients that cannot offer their own guarantees and are unable to autonomously receive ordinary bank loans. The Compagnia di San Paolo, together with Fondazione Cassa di Risparmio di Cuneo and Unioncamere Piemonte, has significantly contributed to the creation of this regional fund at Finpiemonte.
The loan is granted by a credit institution operating with Finpiemonte at particularly favorable conditions and will be guaranteed up to 80% by the regional guarantee fund at zero costs. The Fund operates as a “substitute” guarantee, so that the bank will not have the power to ask the recipient for further guarantees.
The maximum limit of the loan is € 25,000, the minimum limit is € 3,000. The loan must be reimbursed to the bank, in monthly installments, within the maximum period of 48 months for loans that are equal to or lower than € 10,000, and within a maximum period of 72 months for higher loans.
Companies or self-employed workers that apply for microcredit need to be assisted in the prior phase, during the preparation, and during the phase that follows the application. This support activity is carried out by a network of non-profit institutions and by a temporary, special-purpose association that involves employers’ associations.
The network of non-profit institutions, led by Fondazione Don Mario Operti, involves:
• Fondazione San Martino di Cuneo
• Ufficio Pastorale Sociale del Lavoro di Ivrea
• Ufficio Pastorale Sociale del Lavoro di Acqui Terme
• Ufficio Pastorale Sociale del Lavoro di Alessandria
• Ufficio Pastorale Sociale del Lavoro e Caritas di Asti
• Ufficio Pastorale Sociale del Lavoro di Fossano
• Ufficio Pastorale Sociale del Lavoro di Cuneo
• Ufficio Pastorale Sociale del Lavoro di Alba
• Diocesi di Mondovì• Diocesi di Saluzzo
The temporary, special-purpose association, led by Confcommercio Piemonte, is made up of:
• APID imprenditorialità donna
• CasArtigiani Torino
• CNA Piemonte
• Confartigianato Piemonte
• Confcooperative Piemonte
• Confesercenti Regionale del Piemonte• Legacoop Piemonte
Link to the Region's website