Fashion SMEs, towards the OK for the moratorium on Simest-guaranteed loans

As the fashion industry draws to the end of a year of suffering, with the crisis affecting SMEs in the supply chain in a major way, it is precisely the small companies that are expected to get a measure promised by Minister Adolfo Urso during the Fashion Table on 6 August 2024, the last one that saw all business representatives face to face with government representatives. The next one, according to what the minister said during a question time in the Chamber of Deputies, will be 20 January 2025.

The measure in question concerns a moratorium on Simest-guaranteed loans taken out by small enterprises during the Covid period. Funds that SMEs are struggling to repay complicated by the difficult situation: declining orders - even by double digits -, the still high cost of credit, and the need to make investments in order not to be unprepared for the targets imposed by the European Union. The SMEs - which are still waiting for a document describing the intervention - would thus have the possibility of having the capital share suspended and the payment of a share of interest with a small surcharge. A measure that, although it only covers the perimeter of loans guaranteed by Simest, is welcomed.

On 6 August, at the Fashion Table, it was announced that, on the initiative of Mimit, the Italian Banking Association (ABI) had sent a circular to banking institutions with provisions for the recalculation of loans guaranteed by Sace, Simest and Medicredito obtained by companies during the Covid phase and the energy crisis triggered by the conflict in Ukraine.

Still on the subject of financing for small textile-fashion-accessory companies, next 11 December will see the opening of applications to access the funds allocated by the Budget Law 2024 (206 of 27 December 2023) in Article 11 on 'Organic provisions for the valorisation, promotion and protection of Made in Italy': The government, through Invitalia, has allocated 15 million euros, of which 5 million euros for the year 2023 and 10 million euros for the year 2024, for SMEs operating in Italy in the textile, fashion and accessories sector that intend to undertake development paths aimed at favouring the ecological and digital transition of the production process or of the products or services offered.

In detail, the following are eligible: training activities for the company's employees; implementation of enabling technologies aimed at fostering the development of business processes or innovative products, including cloud computing, big data and analytics, artificial intelligence, blockchain, and digital traceability systems for the production chain; and obtaining environmental sustainability certifications. The subsidies are granted in the form of non-repayable contributions of up to 50 per cent of eligible expenses and up to a maximum of EUR 60,000, pursuant to and in compliance with the de minimis regulation.