Intesa sanpaolo supports Sanlorenzo with supply chain finance facilityItalian yacht maker Sanlorenzo has signed with Intesa Sanpaolo for a $50m supply chain finance programme. The company aims to use the reverse factoring scheme to support the regional SMEs that make up much of its mainly Italian supply chain.

“This agreement is of great value for Sanlorenzo, as well as for the more than 1,500 craft businesses working alongside us in the production of our yachts which will benefit from a concrete support tool, in a delicate moment like the current one, to continue to grow and develop together with Sanlorenzo,” said Massimo Perotti, Executive President of Sanlorenzo.

Teresio Testa, head of the Piedmont, Valle d’Aosta and Liguria Directorate of Intesa Sanpaolo, said: “We are facing extraordinary events: to start again, we need to create a system and be strong in the supply chain. Today more than ever, the relationship between company and suppliers represents a fundamental link holding together the local productive fabric.”