التمويل المسبق من خلال Mutuo Chirografario لمشاريع Mini PIA Turismo

How the Mutuo Chirografario Works for Pre-Financing

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Under the Mini PIA Turismo program, banks can provide a mutuo chirografario to cover a substantial portion of the project’s cost before the grant from the Regione Puglia is disbursed. The bank provides this financing based on the financial feasibility of the project and, in some cases, additional guarantees provided by the investor or their company.

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Key Benefits of the Mutuo Chirografario for Mini PIA Turismo Projects:

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1. No Mortgage on the Property: Unlike traditional mortgage loans, the mutuo chirografario does not require an ipoteca (mortgage) on the property, allowing investors to keep the property free of liens.

2. Pre-Financing Flexibility: Banks are typically willing to finance up to 70% of the project’s value through this loan, which covers most of the upfront costs, such as property acquisition, renovations, and early operational expenses. This allows investors to move forward with the project without waiting for the grant.

3. Grant Repayment Structure: Once the project is completed and the Regione Puglia disburses the grant at the end of the rendicontazione process, a portion of the grant can be used to repay part of the loan. This reduces the overall debt burden on the investor, as the grant effectively reimburses a significant portion of the project costs.

 

Typical Loan Amounts and Conditions

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​How Much Can an Investor Normally Get?

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​Banks are typically willing to finance up to 70% of the total project cost through a mutuo chirografario for projects under the Mini PIA Turismo program. This means that if the total project cost is, for example, €675,000, the bank could provide a loan of up to €472,500. The remaining 30% would need to be covered by the investor’s own equity contribution.

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Example Financing Structure:

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• Total Project Cost: €675,000

  • Grant from Regione Puglia: €303,750 (45% of total project cost)

  • Bank Loan (Mutuo Chirografario): €472,500 (70% of total project cost)

  • Investor Equity: €202,500 (30% of total project cost)

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In this scenario, the bank would provide the €472,500 upfront as a mutuo chirografario, allowing the project to proceed. Once the project is completed, the Regione Puglia would disburse the €303,750 grant, which can be used to repay part of the bank loan, reducing the investor's overall debt.

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How Does the Bank Assess the Loan?

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To issue a mutuo chirografario, the bank typically evaluates several key factors:

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• Project Feasibility: The financial feasibility and projected profitability of the tourism project.

• Investor's Creditworthiness: The financial stability of the investor or company backing the project.

• Additional Guarantees: In some cases, the bank may request additional guarantees, such as personal guarantees (fideiussioni) or performance guarantees, but no mortgage on the property is required.

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Why Choose a Mutuo Chirografario for Pre-Financing?

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1. Fast Access to Capital: The mutuo chirografario provides quick access to the funds needed to start the project, eliminating delays that could occur while waiting for grant disbursement.

2. No Encumbrance on Property: Since the loan is unsecured by the property, the investor retains full control over the asset, making it easier to sell or refinance if needed in the future.

3. Easy Integration with Grant Repayment: Once the grant is received at the end of the project, the investor can use it to reduce the outstanding loan, minimizing long-term debt obligations.

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Conclusion

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​For investors looking to participate in the Mini PIA Turismo program, the mutuo chirografario offers a flexible and efficient way to secure pre-financing. By covering up to 70% of the project’s value, this loan structure allows you to start your project without delay, and the grant from Regione Puglia will later reduce your debt, making this an optimal solution for those looking to develop tourism projects in Puglia.

If you would like more information on how to apply for a mutuo chirografario or further details about the financing options under the Mini PIA Turismo program, please contact us.

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Contact Us for More Information

Giuseppe Funaro
CEO, Mari e Trulli International Srl
+44 208 123 1402
+39 351 400 1402
g.funaro@marietrulli.com