Loans, mortgages, self-certifications: aid for businesses and individuals explained by banks


What changes on loans and the unknown factor of the EU Commission

More money: quick loans for those affected by the pandemic in business rise from 25,000 to 30,000 euros. More time to return them: for six years it has risen to ten. Self-certification: finally valid, this will accelerate disbursements by banks. Enlargement of the concessions to more categories: associations of professionals and farmers. Immediate suspension (the installment due after the presentation of documents) of the mortgage installment. These are the substantial changes, in force since Monday 8 June, for the Liquidity decree (Measures to support liquidity for companies damaged by Covid-19), which was finally converted into law, published in the Official Journal on 6 June and has acknowledged the changes to the parliamentary process. For loans guaranteed by the Guarantee Fund (Mediocredito centrale), those up to 5 million, however, there is still an unknown factor: the European Commission is awaiting approval for the effective entry into force of the new rules. The authorization should arrive by mid-June. Gianfranco Sabatini, ABI general manager, and Gianfranco Torriero, deputy general manager, signed the circular describing the main contents as updated by the conversion law. Here are the news, which should accelerate the disbursement of loans and moratoriums on mortgages. The rule to determine the maximum rate was also simplified, even if the reference parameter and therefore the rates went up a bit, due to the increase in government bond yields (but remain low, around 1.5% ).

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