How EFSI benefits SMEs in Europe - Confidicoop Marche case study: Umbria Legno (Italy), woodworks, construction

“Wood is elegant matter. Wood is durable, economical and remains beautiful over time. It can make any space more welcoming and comfortable from a thermal point of view, and offers natural acoustic insulation. It is a great gift of nature” claims Leonardo Pittola, President of Umbria Legno. Umbria Legno is all about wood.

The company was set up in May 2016 and is active in the field of transformation and marketing of wood and garden furniture. Relying on highly motivated and experienced staff with extensive knowledge of Umbria’s territory and local economy, Umbria Legno pride themselves in their ability to satisfy any kind of requirement, specialising in the design, eco-friendly manufacture and installation of wooden and lamellar structures, from canopies to roofs and garden furniture. Basically, as far as wooden structures go, small or large, from the simplest to the most elaborate, Umbria Legno can provide them.

As a young start-up company they faced difficulty in accessing financing due to their lack of credit history. Yet, they needed financial support in order to secure the necessary liquidity to pay their suppliers up-front. The solution came through a bank loan with the help of Confidicoop Marche, who offered to guarantee the loan with the backing of EIF and the EU.

Umbria Legno were thus able to unlock the necessary financing and focus on developing the business. With the cash flow problems behind them, the company is now going from strength to strength and Leonardo is very positive about the future: “In the course of our first year, business has been growing steadily. We have been able to hire two new colleagues and we look forward to increased business in the coming years.”

Umbria Legno has just signed a new deal with a Swiss company, to install pre-fabricated wooden houses. “Hopefully, with this new deal, we can play an active role in the reconstruction effort in the areas of Italy worst-affected by the recent earthquakes, by offering fast and affordable housing solutions. That would be ideal for us.”

“Starting up your own company is not easy and we have found ourselves struggling at times. But if you are passionate about what you do, then sooner or later you will succeed” he concludes.

Company: Umbria Legno (Italy)

Type of business: woodworks, construction

EIF financing:  COSME LGF,  EFSI

For further information about EIF intermediaries in Italy please refer to: http://www.eif.org/what_we_do/where/it