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New loans to cooperatives. Subsidized investments and liquidity – eDotto – Professional information



New impetus to support the birth, development and consolidation of cooperatives. A new aid scheme comes from the decree of January 4, 2021 of the Ministry of Economic Development, which replaces the provisions of the previous decree of December 4, 2014.

New support system for cooperatives. Funding

In favor of cooperative societies, with the aim of strengthening its birth, its development and its consolidation, throughout the national territory, a new aid intervention is instituted, implemented by expanding the number of possible beneficiary companies and by increasing financial support that can be granted.

The provision provides that financial companies owned by MiSE grant cooperatives subsidized loans with the following characteristics:

  • for a period of at least 3 years and at most 10 years, including a maximum pre-amortization period of 3 years;
  • reimbursed according to an amortization plan in constant deferred half-yearly installments, due on May 31 and November 30 of each year;
  • settled at an interest rate of zero percent;
  • if granted against new investments, they can cover the full amount of the investment program;
  • granted for an amount not exceeding 5 times the value of the investment already held by the financial company in the beneficiary cooperative company, and in any case for a total amount not exceeding two million euros.

No form of guarantee is provided for subsidized loans, neither personal, nor real, nor bank, nor insurance.

New support system for cooperatives. Beneficiaries

Production and work cooperatives and social cooperatives (article 17, paragraph 2, law n ° 49/1985) registered in the trade register and which are not in difficult situations are admitted to concessions.

Excluding, however, those who have not reimbursed the aid deemed illegal by the European Commission and who have not returned the facilities for which reimbursement has been requested.

New support system for cooperatives. Investments and liquidity

The decree of January 4, 2021 provides that loans can be granted:

  • for the realization of a investment program not yet started on the date of submission of the loan application to the financial company;
  • for the needs of liquid assets cooperative company directly oriented towards commercial activity

In the first case, the investment program must be concluded within 36 months from the date of stipulation of the loan contract, except for the granting of extensions.

New support system for cooperatives. Submission of requests

Concessions are granted on the basis of an evaluation procedure with counter procedure.

The decree in question is awaiting publication in the Official Journal.

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