Flood, Banco di Sardegna takes the field with 100 million euros

The ceiling will be destined, in extremely short times, to loans at highly mitigated conditions to face the emergency and support the liquidity needs of households and businesses in this difficult moment

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SASSARI. In relation to the very heavy damage caused by the violent storm that hit numerous towns in Sardinia, with particular gravity in Bitti, Banco di Sardegna takes the field from today with an extraordinary initiative called “SARDINIA FRONTE COMMUNE – MALTEMPO”, allocating a a ceiling of 100 million euros to be allocated, in extremely short times, to loans at highly mitigated conditions to face the emergency and support the liquidity needs of households and businesses in this difficult moment. The suspension of installments, the so-called moratorium, for a period of up to 12 months on existing loans is also envisaged for all the categories highlighted below. Financial support interventions can be requested as early as December 1st and concern all production sectors and all categories represented – from individuals to freelancers, artisans, traders, breeders, shepherds, direct farmers and the whole world of the countryside and other small economic operators, SMEs, to larger companies – Applicants must be resident in the territories affected by bad weather and in this sense specifically identified by the Region.

For the business world, unsecured loans of up to € 50,000 with a maximum duration of 36 months are contemplated, of which 12 for pre-amortization – at zero interest for the first year and 1% for the following two years – without preliminary costs and penalties for repayment anticipated. In the presence of larger companies, interventions of different cuts are planned commensurate with the turnover. As regards any requests for financing for investments, these will be analyzed on a case-by-case basis, they will also provide for highly mitigated rates and will obviously take into account a longer time horizon. With reference to families and freelancers, interventions of up to 20,000 euros have been envisaged, in the form of a one-year current account credit line, repayable on maturity or convertible into a 36-month personal loan; also in this case, zero rate for the first year and zero expenses; in the case of transformation into a personal loan: rate 1%. For all the interventions requested by existing customers, only the signing of a simple self-certification of the damage suffered and the request for financing to repair it will be acquired. In the case of non-customer applicants, the census and the collection of basic documentation will necessarily be carried out. The self-certification and loan application form can be requested at any branch or downloaded from the Bank’s website, where the characteristics of the initiative in question are also indicated in greater detail; the delivery of these forms may be sent by e-mail or at the counter. Starting from tomorrow, the Banco’s equipped camper will also be present at Bitti which, in compliance with the anti-Covid safety regulations, will give advice and assistance on these measures and possibly withdraw requests and self-certifications.

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