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August 3, 2009updated 12 Apr 2017 4:34pm

Italian SMEs given 12-month moratorium on leasing loans

Italian SMEs will be given the opportunity of a moratorium on the payment of their mortgage and leasing loans, Italys government, the countrys banking association ABI and employers organisations have agreed.

By Antonio Fabrizio

Italian SMEs will be given the opportunity of a moratorium on
the payment of their mortgage and leasing loans, Italy’s
government, the country’s banking association ABI and employers’
organisations have agreed.

The three parties have signed an agreement that allows small and
medium-sized companies to suspend for a 12–month period the payment
of their mortgage and leasing loans.

During the moratorium, only interest on the residual amount owed
will fall due, while the normal repayment programme will resume at
the end of the 12-month period.

Italian banks will have 45 days to adhere to the programme,
starting from August 3, while their clients will be given until
June 30, 2010 to apply to the scheme.

SMEs, however, will only be allowed to apply if they meet
several criteria, including being in line with previous payments
and not being under a restructuring process.

Antonio Fabrizio

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