Western Union Provides Access to COVID-19 State Guaranteed Loans for Business Customers
August 05 2020 - 4:00AM
Business Wire
Western Union broadens its range of services
for business clients with Guaranteed loans for Italian SMEs
The Western Union Company, a leader in cross-border,
cross-currency money movement and payments, through Western Union
International Bank GmbH (WUIB), a licensed credit institution in
Austria, is expanding its international payments and risk
management product solutions portfolio with an ancillary lending
offer aimed at Italy-based Small/Medium Enterprises. As a
participant of Medio Credito Centrale State-guaranteed lending
program, Western Union Business Solutions can accept loan
applications to help provide financial assistance to eligible
Western Union Business Solutions existing clients in Italy.
“The Italian economy has been severely hit by the COVID-19
crisis, with some of the country’s key industries still in the
early stages of the recovery phase. We are committed to support our
SME customers to address the challenges their treasury is currently
facing, helping them manage risks of international trade and
foreign currency exposure as well as to access the State-guaranteed
loan program and inject liquidity in their day-by-day operations,”
said Christian Traversini, Head of Southern Europe for Western
Union Business Solutions. “We are happy to be there for our clients
in these difficult times.”
The recently approved Government Decrees (“Decreto Liquidità e
successive modifiche”) aim at helping Italian businesses maintain
current employment levels as well as to fund their daily
operations. The approved lending applications will be guaranteed at
90% or 100% of the notional amount by Medio Credito Centrale, a
state-owned financial institution. The loans provide funding for
payroll, rent/mortgage interests and utility bills, with no
collateral or personal guarantees required to applicants.
Applications will close on December 31, 2020, although funds are
capped based on available government funding.
To learn more about the COVID-19 State guaranteed Loans program,
please visit https://www.mcc.it/covid-19/.
About Western Union
The Western Union Company (NYSE: WU) is a global leader in
cross-border, cross-currency money movement and payments. The
Company’s omnichannel platform connects the digital and physical
worlds and makes it possible for consumers and businesses to send
and receive money and make payments with speed, ease, and
reliability. As of March 31, 2020, the Company’s network included
over 550,000 retail agent locations offering our branded services
in more than 200 countries and territories, with the capability to
send money to billions of accounts. Additionally, westernunion.com,
the Company’s fastest growing channel in 2019, is available in over
75 countries, plus additional territories, to move money around the
world. With our global reach, Western Union moves money for better,
connecting family, friends and businesses to enable financial
inclusion and support economic growth. For more information, visit
www.westernunion.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200805005198/en/
Media contacts:
Natacha Berthelot Head of Europe Marketing for Western Union
Business Solutions natacha.berthelot@weseternunion.com
Western Union (NYSE:WU)
Historical Stock Chart
From Jun 2024 to Jul 2024
Western Union (NYSE:WU)
Historical Stock Chart
From Jul 2023 to Jul 2024