European Commission - Internal Market, Industry, Entrepreneurship and SMEs

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Revolving fund for loans

Title of measure
Full title in national language:
Fondo rotativo per prestiti
Duration:
2017 to 2019
Policy objectives Plus
Presentation of the measure:

The region of Tuscany intends to activate the zero rate instrument for the investment of micro, small and medium-sized craft enterprises, industrial manufacturing, tourism, trade, culture and service sectors with the aim of supporting and to increase the investments in the Tuscany region in machinery, plant and intangible assets to accompany the reorganization and restructuring processes in line with the specialisation areas identified by the smart specialisation strategy  of Tuscany (s3): ICT and photonics; intelligent factory; chemistry and nanotechnology. The final recipients of the fund are micro, small and medium-sized enterprises, including consortium companies, as well as freelancers having legal headquarters or production unit in the regional territory.
The fund supports innovative investment programs in intangible and/or intangible assets aimed at:

  • the extension of an existing establishment;
  • the diversification of the production of an establishment by additional products;
  • the radical transformation of the overall production process of an existing plant.
Budget, source and type of funding
Year201720182019
National public funds
Regional public funds
EU Structural Funds 7,517,906.547,597,014.267,677,702.64
Private funds
Other
Form of funding provided
Subsidised loans (including interest allowances)
Policy learning
To what extent the measure can be considered as a success and worthy of policy learning?:
It is too early to judge the success of the measure (e.g results of first call for proposals still not known).
Evidence of outcomes based on evaluation and other evidence:

This measure can boost the entrepreneurship thanks to the support to the birth and the growth of the SMEs. An important factor for reaching this goal is the gap in the provision of finance. A negative factor is the poor weight SMEs have in the regional context.

What are the most important “Do’s and Don’ts” that regional stakeholders should be aware of when launching a similar measure?:

The regional stakeholders must be sure about the financial gap in the market. The SMEs must face problems in borrowing and/or raising money. Moreover, in the target area there could be a good entrepreneurial activity. The things that must be avoided when launching this kind of measure is believing that this without collateral activities (e.g. mentorship) could improve the entrepreneurial spirit in the area.

Would you recommend this measure as an example of regional good practice to policy-makers from other regions ?:
Yes
Organisation(s) responsible