Please be advised that Article 14, paragraph 1, of Legislative Decree No. 200 of 31 December 2025 (the so-called "DL Proroghe") has extended the operation of the Guarantee Fund for SMEs until 31 December 2026, as provided for by the Reform introduced by Article 15-bis of Legislative Decree No. 145/2023 and subsequently amended.icaintroduced by the 2025 Budget Law.
The Guarantee Fund Circulars (no. 21/2023, no. 20/2024, and no. 1/2026) are now available, summarizing the provisions introduced by the aforementioned measures.









