Finpiemonte, on behalf of the Piedmont Region, intends to launch a market survey to gather expressions of interest from economic operators interested in proposing innovative financial instruments for facilitated access to credit for third-sector entities operating in the cultural and tourism sectors that have been awarded regional grants.

The proposed instruments must aim to provide these third-sector entities with immediate access to financial resources under favorable conditions, in exchange for non-repayable grants already approved by the Piedmont Region but whose disbursement timelines may not align with the cash flow needs of the entities. To facilitate access to credit, the Piedmont Region will allow financial charges incurred for these loans to be considered eligible costs for grants awarded in 2025, up to an indicative limit of 2% of the financing amount.

This survey is solely intended to assess the interest of financial operators in offering favorable credit products to the targeted entities. Participation in the survey does not create any commitment or obligation for Finpiemonte or the Piedmont Region toward the participating economic operators. However, the region remains open to defining the most appropriate methods to facilitate business relationships between financial operators and third-sector entities, for example, by facilitating information exchange and issuing relevant certifications.

The proposed financial products should be designed for third-sector entities in the cultural and tourism sectors that have been awarded regional grants, providing them with short-term financing (up to a maximum of 30 months) under favorable conditions, with a total available amount of approximately €10 million.

The loans will be provided as cash advances corresponding to the grants already definitively awarded but not yet disbursed by the Piedmont Region. These advances can then be repaid once the regional grants have been officially disbursed.

Consideration will be given to:

• Direct proposals from financial institutions interested in offering favorable credit conditions.
• Proposals from third parties interested in facilitating financial institutions in offering favorable credit conditions, such as through guarantee mechanisms on the loans provided.

Proposals may be submitted in any format deemed appropriate by the economic operator and must be sent to Finpiemonte at direzione@finpiemonte.it, with the subject line: “MARKET SURVEY for facilitated access to credit for advance payment of public grants under regional funds”

Deadline: March 17, 2025, by 5:00 PM.

The full notice can be consulted here.