Financial institution Finlombarda invests 15 million euros in October in an SME IV to support small local businesses

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Spa Finlombarda, the financial institution of Lombardy Italian region, will support the relaunch of Economy of Lombardy via the Italian alternative financing project, says “EASY credit”.

As mentioned in an update posted on June 23, 2021 by October, this acronym means “simple” in Italian and this initiative will aim to “meet the liquidity needs of SMEs in the region in a simple way”.

Finlombarda confirms its willingness to “support the real economy by investing 15 million euros in the October PME IV fund”, according to the update Noted.

October reportedly agreed to “deploy at least an equal amount to support SMEs in the Lombardy region”.

Finlombarda’s investment of 15 million euros is added “to the 150 million euros raised from several European institutions, including the European Investment Fund (EIF), Cassa Depositi e Prestiti (CDP) and Bpifrance“, revealed the ad.

As noted in the update, October allows companies in France, Italy, Spain, the Netherlands and Germany to access rapid financing “to supplement the traditional banking system through a hybrid system institutional investors and private lenders ”.

The announcement also mentioned that this should serve as “further proof of the European institutions’ confidence in October’s technology, which offers them an innovative investment model and closer to the real economy”.

Michele Vietti, President of Finlombarda Spa, said:

“Credit FACILE is a concrete example of how the synergistic action between all the actors of the financial ecosystem is the right way to revive the economy of our region, using financial instruments complementary to traditional financing. Among those already active at Finlombarda are Minibond in partnership with other institutional investors and ELITE Basket Bond Lombardia in partnership with CDP.

Sergio zocchi, CEO of October Italy, said:

“October’s commitment to supporting SMEs and the real economy continues with this initiative. A strategic partner such as Finlombarda allows us to make available to Lombard companies not only financial resources but also experience and technology, creating the conditions for fruitful collaboration between institutional and private actors for the benefit of companies. .


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