NEW INITIATIVE BETWEEN AMCO AND BANCA PROGETTO TO FACILITATE BORROWERS THROUGH SALARY-BACKED LOANS
NEW INITIATIVE BETWEEN AMCO AND BANCA PROGETTO TO FACILITATE BORROWERS THROUGH SALARY-BACKED LOANS
- Agreement to provide financing backed by the “assignment of one-fifth of salary or pension” on favourable terms
- An additional tool available to AMCO’s borrowers to facilitate the settlement of their exposures
Milan, 4 August 2021 – AMCO and Banca Progetto announced they have entered into an agreement under which Banca Progetto will be able to provide financing backed by the assignment of one-fifth of a person’s salary or pension to AMCO’s borrowers on favourable terms.
Part of the financing will be used to settle all or part of the debt exposure to AMCO.
The partnership thus provides AMCO’s borrowers with an additional tool to settle their exposures, also reducing legal proceedings.
Banca Progetto, thanks to its business model based on the right mix of human capital and technological innovation, is able to activate salary-backed financing in a transparent and fast way; throughout 2020, Banca Progetto has managed to grow despite the pandemic, providing liquidity to individuals and families and closing the first six months of this year providing financing for a total amount of 108 million euros.
