Thanks to a favourable regulatory framework and new tax benefits, micro, small and medium-sized enterprises with registered offices and/or operations registered in the Company Register of the Milan, Monza, Brianza and Lodi Chamber of Commerce and active in all economic sectors (except banking) can benefit from a cost reduction of up to EUR 25,000. Let's see in detail how this incentive works and what advantages it offers to companies.
What are Minibonds?
Minibonds are financial instruments issued by unlisted companies to raise capital directly from investors. They are an alternative to traditional bank credit, allowing companies to obtain resources for investment and growth without overburdening their debt position with credit institutions and without diluting their share capital.
Eligible subjects and operations
Access to these instruments is restricted to micro, small and medium-sized enterprises (MSMEs) with a registered office or operational headquarters registered with the Chamber of Commerce of Milan Monza Brianza and Lodi. Companies must be active in any economic sector, except banking, and can issue minibonds through various methods:
- Allocation to qualified investors according to current regulations, including those operating through crowdfunding platforms.
- Listing on regulated markets.
- Trading on multilateral trading systems.
- Inclusion in basket bond transactions.
For the minibond to be eligible, at least 60 per cent of the nominal value of the issue must have been actually placed, with at least two investors subscribing.
The tax advantage: cost reduction of up to 25,000 euro
Companies may benefit from a non-repayable contribution of 50% of eligible expenses, with a maximum that varies according to the characteristics of the operation:
- 15,000 € for standard issue costs.
- 20,000 € if the transaction involves a rating, listing of the minibond or placement on a crowdfunding platform.
- 20,000 € if the bond is classified as a Green, Social & Sustainability Bond.
- 25,000 € if the operation combines the above requirements.
Eligible Expenditure and Timing
Eligible expenses are those incurred between 1 December 2023 and 25 November 2025, unless resources are exhausted. Eligible items of expenditure include:
- Specialised consultancy costs for the structuring of the issue.
- Notary and title dematerialisation fees.
- Advisor and arranger fees.
- Legal and disclosure fees charged by investors or stock markets.
- Costs for ratings by ESMA-authorised agencies.
- Fees for listing on stock markets or crowdfunding platforms.
- External certifications for Green, Social & Sustainability Bonds.
Application procedure and available resources
Companies can apply exclusively online between 23 April 2024 and 28 November 2025, until the available funds are exhausted. It is possible to apply both before and after the minibond is issued and placed.
The call makes available to companies a budget of €70,000 for 2024 and €100,000 for 2025.
Conclusion
The issuance of minibonds is a viable strategy for SMEs wishing to raise capital without relying solely on bank credit. Thanks to the tax credit that allows costs to be reduced by up to EUR 25,000, this instrument becomes even more accessible and convenient. Interested companies should carefully assess this opportunity and seek the help of experienced advisors to structure the transaction in the best possible way.
Contact us and receive a free evaluation: support@2meet2biz.com
For more information on the call for tenders: https://www.assolombarda.it/servizi/credito-finanza-e-incentivi/informazioni/bando-mini-bond-contributo-per-abbattimento-costi-e-sottoscrizione-obbligazione-fino-al-40