PRESENTATION

Sace Simest facilitates the implementation of internationalization projects in non-EU countries through the temporary placement of a Temporary Export Manager (TEM) in the company, through the signing of a contract for consulting services provided exclusively by Service Companies.

BENEFICIARIES

Italian corporations (including those set up as a “Subject Network”) are eligible for the facility.

In order to qualify for financing, it is necessary to have filed at least two financial statements covering two full fiscal years with the Registrar of Companies.

The following sectors of activity, according to the ATECO 2007 Classification, are excluded:

– SECTION A – Agriculture, Forestry and Fisheries all activities

– SECTION C – Manufacturing activities – only the activities in the following classes:

– 10.11 – Production of non-poultry meat and slaughter products (activities of slaughterhouses)

– 10.12 – Production of poultry meat and slaughter products (activities of slaughterhouses)

ELIGIBLE EXPENSES

Expenditures eligible for funding must be:

– related to the services of specialized professional figures (TEM), resulting from the Service Contract, which must be at least 60% of the funding granted

– Expenses strictly related to the implementation of the project developed with the assistance of the TEM.

Expenditures are eligible for financing from the date of arrival of the application to SIMEST, up to 24 months after the date of signing the financing contract (implementation period).

Expenditures are eligible if an appropriate contract for consulting services provided is entered into with a Service Company that meets the requirements of the Operating Circular.

AGEVOLATION

Financing can cover up to 100 percent of budgeted expenses, up to a maximum of 12.50 percent of average revenues from the last two approved and filed financial statements, with a maximum amount of 150,000 euros and a minimum of 25,000 euros.

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).

The loan provides for an initial disbursement of 50 percent of the granted loan amount, following the resolution of the Facilities Committee.

The balance amount shall be disbursed within 29 months from the date the loan contract is signed, following the reporting of all expenses incurred and provided they exceed the amount already disbursed.

The total term is 4 years of which 2 years are pre-amortization (for interest only) and 2 years for principal repayment. 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

The application can be submitted at any time.