Italian SME Guarantee Fund: operating measures extended to 31 December 2026

The operating measures of the Italian Guarantee Fund for Small and Medium-sized Enterprises (SMEs) have been extended until 31 December 2026. Different guarantee percentages remain available for liquidity financing and certain small transactions, while qualifying micro-enterprises, mid-cap companies and Third Sector Entities (Enti del Terzo settore – ETS) may also fall within the scope of the Fund.

What guarantee coverage is available?

The maximum amount remains EUR 5 million per beneficiary. For financing intended to cover liquidity needs, the maximum guarantee is 50%, while certain small transactions may benefit from coverage of up to 80%; for applications submitted through authorised guarantors, the maximum amount for such transactions is EUR 100,000.

Who can access the Fund?

The scope also includes mid-cap companies with between 250 and 499 employees, subject to the applicable requirements, as well as Third Sector Entities (Enti del Terzo settore – ETS) for specific transactions. The Fund intervention remains free of charge for micro-enterprises.

Does the public guarantee replace the bank’s credit assessment?

A public guarantee can facilitate access to financing but does not replace the bank’s creditworthiness assessment. Financial statements, Central Credit Register trends, prospective debt-servicing capacity, budgets and the quality of financial information remain key elements in a lending decision.

What should the business do?

What are the main legal and administrative references?

Legal and administrative references: Law No. 662 of 23 December 1996, Article 2(100)(a); Decree-Law No. 145 of 18 October 2023, Article 15-bis; Law No. 207 of 30 December 2024; Decree-Law No. 200 of 31 December 2025, Article 14; Guarantee Fund Circular No. 1/2026.