The five-year credit line will be available UniCredit Leasing in two equal tranches, to be drawn in July 2014 and January 2015. The loan is 80% guaranteed by Italian group SACE.
The first EUR25 million tranche will be available to UniCredit Leasing at the beginning of July and the company will use it to finance SME acquisitions of commercial and heavy-duty vehicles. Until the end of August, UniCredit Leasing will grant financing at an interest of 4.49% a year.
The leasing company has a standard interest of 6.9% for commercial vehicle financing.
Eligible SMEs must have a turnover of maximum EUR50 million and 250 employees at most. UniCredit Leasing must use 10% of the credit line to support the agricultural sector.
The leasing company, owned by UniCredit Tiriac Bank, had a previous EUR50 million credit line from EIB in 2008, which was used to finance 1,200 clients in sectors such as energy, environmental protection, infrastructure, healthcare, education, industry, agriculture and tourist services.