Italy’s banking group Intesa Sanpaolo is offering its SME-sized
customers the possibility to postpone by one year the payment of
their loan and leasing instalments.
The banking group will allow a 12-month deferral of the capital
element of loans and leasing contracts for those clients that
request it, starting from July 2009.
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In that period, only interest on the residual amount owed will
fall due, which will be charged on the usual due dates of the
loan. The normal repayment programme will resume at the
end of the 12-month period, but moved forward by one year.
The cost to the group’s customers will consist of a commission
relating to the size of the residual amount outstanding and to the
duration of the loan.
Intesa Sanpaolo said that the move is aimed at SME
businesses with a turnover up to €50 million, and that more
than 30,000 small and medium-seized companies could potentially
benefit from it.
Carlo Berselli, Intesa Sanpaolo Business Marketing Manager,
said: “In this critical phase for company liquidity, businessmen
need to keep the engine running in their businesses.”
“By offering the possibility of deferring the instalment
payments, we are helping businesses to get through a critical phase
in the market, while at the same time safeguarding their production
capacity and competitive edge.”
Antonio Fabrizio
