Cultural enterprises need tailored financial planning and credit access

Cultural enterprises in Italy face challenges accessing credit due to a lack of financial planning and inadequate understanding by banks. While public funds from the Ministry, PNRR, and EU provide leverage, private credit is essential for investments and project timelines. Banks like Credito Sportivo have cultural divisions, but creditworthiness is now algorithm-based, considering solvency, debt levels, and cash flow stability. Cultural institutions often discover their rating only when applying for loans. The article argues for tailored financial instruments, similar to sustainability loans, and better training for banks to evaluate intangible cultural assets. Irene Sanesi, a commercialist and auditor, emphasizes that avoiding credit hinders development. The piece calls for a cultural shift in financial planning and banking approaches.