PRESENTATION

Sace Simest supports participation in fairs, exhibitions and system missions in non-EU countries, including system missions promoted by MISE and MAECI and organized by ICE – Agency, Confindustria and other institutions and trade associations.

BENEFICIARIES

Italian small and medium-sized enterprises, including those established in the form of a “Subject Network,” are eligible for the facility.

Enterprises operating in business sectors excluded under Article 1 of EU Regulation 1407/2013 are not eligible for funding.

ELIGIBLE EXPENSES

The following types of expenditures are eligible:

– Expenses for exhibition area,

– logistic expenses,

– promotional expenses

– consulting fees

Expenses are eligible for financing from the date of arrival of the application to SIMEST. Expenditures are eligible if they are directly related to the fair/exhibition and incurred during the period of implementation of the program, which starts from the date of submission of the application itself and ends 12 months after the date of signing the financing contract.

AGEVOLATION

A low-interest loan of up to €100,000.00 is provided, which can cover up to 100 percent of budgeted expenses, up to a maximum of 10 percent of last year’s revenues.

Financing may be granted for an amount not exceeding the amount allowed by the application of EU “de minimis” regulations and within the limit of exposure to the 394 Fund (35 percent of average revenues in the last two years).

Until Dec. 31, 2020, the facility can be accessed without the need to submit collateral and up to 40 percent of the grant funding can be applied for.

The term of the loan is 4 years including 12 months of grace period.

The first advance disbursement, in an amount equal to 50 percent of the approved financing, is made within 30 days from the date of finalization or the date of fulfillment of any conditions precedent.

These conditions must be met, under penalty of revocation, within 3 months from the date of perfection.

The second disbursement of the balance of the reported amount is made within 17 months from the date of completion.

The interest rate is fixed for the entire term of the loan and equal to 10 percent of the reference rate under EU regulations.

SUBMISSION DEADLINES

Notwithstanding the fact that the company may submit multiple applications for funding, each individual application must be for a single initiative in a single country. The application must be submitted before the scheduled start date of the fair/exhibition.