IntesaSanPaolo Banking Group and Italian artisan associations, which include Confartigianato, CNA, and Casartigiani, signed an agreement to channel €3bn to Italian small businesses.
In Italy, there are approximately 1.470.000 artisans (28% of the total) employing around 21% of total workers.
Under the agreement, IntesaSanPaolo will provide companies with working capital they need to deal with the difficulties in the current economic phase and with financial help to boost their assets, improve their rating and, therefore, increase their chance to further access to credit.
The agreement is aimed to support artisans through tailored financial products and simplified processes to obtain loans. The capillar presence of both artisans associations, which have some 2,500 territorial structures, and the 6,000 branches of the 22 banks of IntesaSanPaolo Group distributed at a local level, guarantees the proximity to SMEs in every part of the country.