Sace and Banca Popolare di Sondrio partner on SME credit recovery support

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Banca Popolare di Sondrio and Sace have created a new partnership designed to assist Italian SMEs in the recovery of trade receivables from both Italy and abroad.

The agreement gives SMEs access to Sace’s credit recovery and restructuring services, and its large network of legal correspondents. Support will be offered in handling the different phases of judicial and extrajudicial activity for credit recovery, negotiating agreements and restructuring of corporates’ and bankers’ financial exposure, repossession and remarketing of the supply under guarantee abroad.

Users will also have access to a web portal to directly manage their trade receivables and obtain commercial information on specific counterparties, foreign markets and sectors.

The partnership complements the €300 million loan agreement backing Italian SMEs exporting to Iran that the pairing signed in April.