The name is Programma Filiere, and it makes 10 billion euro available to facilitate access to liquidity by SMBs that support Italian manufacturing. The entity that offers this credit line is Intesa San Paolo, with which Veneto-based tannery Pasubio has already underwritten an agreement. Goal is to support its supply chain. Here is how and why.
Supporting its chain
The objective of the agreement between Intesa San Paolo and Pasubio is, as written in an official statement written by the bank, very concrete. “Companies, given their role in the supply chain, will be able to access a wide range of financing options within a short period of time”. And they will do so “at the best possible conditions and with fast delivery of the credit”.
For this case then, “Intesa San Paolo and Conceria Pasubio, leading tannery in the manufacturing of high-quality leather for the automotive segment, have underwritten an agreement”. The deal is for “access to credit for all companies supplying goods and materials to Pasubio”.
“The project – writes Intesa San Paolo – was created because of the shared wish to support small and medium businesses across the territory that are tied to the chain but that are going through a time of difficulty due to the Covid-19 emergency”.
How? “By making available, to them, the best solutions to recover. Thanks to the agreement and reciprocal exchange of information, credit access to SMBs is facilitated, with additional economic advantages. The deal leverages Pasubio’s industry knowledge”.
“In order to compete successfully on international markets – says Luca Pretto, CEO of Pasubio -, it is always important for companies to join their quality and product efficiency with the strength of a system able to integrate technology, organization, human and economic resources and, at the same time, financing all partners that rotate around the business itself.
Every tool that favors an effective, organic and structural integration with the business is of vital importance”. Pasubio’s CFO Giuseppe Viola also shares this view: “The deal reached with Intesa San Paolo offers an agile, lean and quickly implementable tool”. Which “allows us to consolidate and strengthen the financial relationship with our strategic suppliers”.
A wonderful multiplier
Within a challenging context as the one we find ourselves in today – says Renzo Simonato (Intesa San Paolo’s regional director in charge of Veneto, Friuli Venezia Giulia and Trentino Alto Adige) -, the strategic relationship between segment leaders and their suppliers can became a wonderful multiplier”.
But it can also act as “a facilitator, for SMBs, to access credit by leveraging the solidity and strength of their buyers”.