While the damage caused by the bad weather that affected Liguria and Emilia is still counting, the Italian banking system is activated to try to give comfort to the populations damaged by the intense rains that have finally caused a series of disastrous floods.
Grant loans and subsidized loans
A first response to the huge damage caused by the flood that struck Genoa on the night between 9 and 10 October 2014 and to those who hit Parma and then the Alessandria area in the following days, was in fact supplied by some banking groups, who have decided to grant loans and subsidized loans to companies and families that have been involved in the disaster.
Starting from Bankate, which has decided to make a 15 million USD budget available to interested parties, which is obviously destined to support all those who have suffered damage due to the violent setbacks that they have literally scourged from an economic point of view the Genoa area and the hinterland. Another ten million were reserved for the provinces of Alessandria and Parma.
The funds in question will be disbursed at particularly favorable conditions and will be made available to all damaged families and businesses. It should also be remembered that, exceptionally, the appraisal rights or the expenses usually associated with the collection of the installments will not be applied to the granted figures, while the procedures envisaged for obtaining the loan will see a net streamlining, such as to make simple self-certification sufficient of the damages suffered during the flood.
The effort put in place by Bankate is accompanied by that prepared jointly by Zaloan and OneCashe. The initiative in question is called “zero-rate solidarity” and consists of a loan repayable on the expiry of twelve months in favor of the Genoese companies and private victims of the flood, including company employees. The loan amount can be up to 50,000 USD, and the loan is aimed at residents of the areas affected by the events as well as businesses from all sectors. The purpose of the initiative is to favor interventions aimed in particular at meeting the costs deriving from damages, even partial, which have affected residential, commercial and industrial buildings. Also in this case there are no expenses for the instruction of the practice, nor interest rates.
Also Astro bank and Viloan, or the banking institutions that are part of the Intesa San Paolo Group and which operate in the Parma area, have in turn activated to try to meet the needs of reconstruction. In this sense the allocation of a total budget of 15 million should be interpreted, which could be integrated in the near future, for the release of financing characterized by particularly favorable conditions to be allocated to businesses, traders, small artisans, farmers and families of the province of Parma that have been victims of damage as a result of the bad weather that caused disasters in the Parma area.
Finally, the initiative of the Bank Moly, which has provided loans for up to thirty-six months granted at a fixed rate of 1%, is worth mentioning. In this case, the funding can reach a maximum of 20,000 USD for private individuals and 30,000 USD for businesses, and can be requested by the deadline of 31 January 2015.