Name in original language
Fondo di Garanzia per le PMI
Initiative overview
The Fondo Centrale di Garanzia per le PMI (FGPMI) has been operational since 2000 under Law 662/1996 and is administered by MIMIT through the fund manager Mediocredito Centrale. It provides public guarantees to banks on loans to SMEs and innovative startups, reducing lenders' credit risk and enabling businesses that would otherwise lack sufficient collateral to access finance. For innovative startups and certified incubators, the guarantee is free, priority-processed, and covers up to 80% of the loan (maximum guaranteed amount: EUR 5M per company; simplified assessment with no additional credit evaluation beyond the bank's own). For standard SME investment operations (including AI and 4.0 technology purchases), the guarantee is also 80% (maintained under Budget Law 2025 and extended through 2026 under Budget Law 2026). For liquidity operations, the guarantee was reduced to 50% from 2025. The fund can also be used to secure Nuova Sabatini loans. An extension to mid-cap companies (up to 499 employees) was approved, subject to EU authorisation. Between 2013 and 2023, the fund managed 18,053 operations for innovative startups, mobilising approximately EUR 3.4B in financing. For innovative PMEs (PMI innovative), access is free but subject to minimum creditworthiness thresholds. Total financing mobilised across all SME operations exceeds EUR 3.8B for startup/innovative SME categories alone.



























