A number of Italian leasing companies and banks, including MPS
Leasing & Factoring, have signed an agreement with the regional
administration of Tuscany to allow struggling firms to defer the
payment of their loan and lease instalments until the end of the
year.
The initiative, which involves 13 banks and two leasing
companies – MPS Leasing & Factoring and Centro Leasing Banca –
is aimed at local small and medium-sized companies which have a
good payment history with the lenders, but are now encountering
problems in keeping up with payments.
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The agreement allows them to suspend the payment of loan and
lease instalments until the 31 December 2009.
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.
Italian banking group Intesa Sanpaolo announced a similar
initiative last month, running from July 2009 for a 12-month
period.
Antonio Fabrizio
