Banca Ifis has signed an agreement that provides for an advance of over 6 million euros in VAT credits to the De Wave Group, a global marine contractor specialized in the design, construction, fitting out and refitting of cabins, toilets, public areas and catering areas of ships from cruise ships, ferries, ships supporting the oil & gas sector, military ships and large ships.
The Group is headquartered in Genoa and has plants, operational units and commercial offices in Italy, Poland, the United States and South East Asia.
“De Wave is a long-standing customer that Banca Ifis has always followed, over the years, supporting its growth with various structured finance and reverse factoring operations” explains Raffaele Zingone, head of the Central Business Department of Banca Ifis.
“The sale of VAT credits it’s a need particularly felt by our companies, as tax credits have rather long repayments and liquidity advances become, in this context, an important financial instrument, all the more so in a difficult moment like the one that our company is experiencing today economy“.
Banca Ifis assists companies in several financial needs with a complete range of products and services: factoring, advisory and equity investment, structured finance, leasing and medium and long-term financing for industrial investments.
The transfer of VAT credits and tax credits is carried out either with or without recourse, with possibility to proceed with the sale of the credits outright. The operation is envisaged as a line of additional (and not replacement) credit to those that the company already has.