The financial aid is aimed at small enterprises with an annual turnover of up to 7 million euros and medium-sized companies with an annual turnover less than 40 million euros. .
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According to a report in Il Denaro there are four types of support: funding to cover 25 per cent of the project cost to a maximum of 75,000 euros; a 1 per cent interest rate loan of up to 75,000 euros to cover 25 per cent of the project’s total cost; an extended bank loan at half the standard interest rate up to 150,000 euros; and up to 90,000 euros financial aid covering 30 per cent of the project total cost .
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Source: Fiber2fashion.com
Date:2/26/2004
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