Fashion loans have doubled, but the funds ran out in 24 hours: Is 60 million enough to support Italian design?

The bonus rises from 5% to 10%, but more than 400 applications use up the entire allocation in a single day. The problem isn’t the rate; it’s figuring out whether a rush to make reservations could become an industrial policy for the fashion industry.

The platform opened at 12:00 p.m. on July 7. By the following day, the 60 million in tax credits for design and aesthetic conception had already been reserved. Over 400 applications, primarily from the fashion industry, were enough to exhaust the allocation set aside for the entire year of 2026.

The Ministry described the result as extraordinary. And in part, it is: it shows that companies want to continue investing in new collections even as the sector is going through a slump. But a fund that runs out in 24 hours does not merely measure the measure’s success. It also measures the gap between demand and available resources.

The credit is more favorable than that of 2025. The rate doubles from 5% to 10%, the limit remains at 2 million per company, and the benefit can be used in a single annual installment. On paper, it’s a clear improvement.

Behind this doubling, however, the way the program works has changed. There is a national cap, and funds are allocated on a first-come, first-served basis. It’s not enough to incur eligible expenses; you still have to find room within the cap. Funding becomes more generous for new applicants and more uncertain for everyone else.

A year earlier, the ambition seemed different. In July 2025, MIMIT had proposed a new round of the program with 250 million euros. It was a projected allocation, not yet approved; the budget law ultimately allocated 60 million—24% of the initial figure. It is difficult to separate this discrepancy from the speed with which the fund was absorbed.

The Ministry has not published the total amount of requests, so we do not know how many millions are still needed. But the data needed to answer the question posed in the headline already exists: the resources intended to last twelve months lasted just one day. Il Sole 24 Ore had identified the funding cap and the loss of automatic renewal as the weak points of the extension. The opening of the application window confirmed this.

In the fashion industry, sample production is about manufacturing, not decoration. It involves materials, designers, patternmaking, testing, software, prototypes, and revisions. It is the point at which an idea becomes a product and the product begins to stand out. Supporting this phase means addressing a concrete aspect of Italian competitiveness.

France will maintain a 5% tax credit for new collections through 2027—less generous than Italy’s and reserved for industrial firms in the textile, apparel, and leather sectors. However, it has built other tools around that credit: grants for emerging brands and the DEFI system for showrooms, trade shows, digital initiatives, financing, and exports. The tax rate is lower, but the support is more comprehensive.

Portugal has allocated 57 million to the internationalization of SMEs across all sectors, covering 40%—and in some cases up to 50%—of the costs for marketing, e-commerce, and international brand promotion. In the textile sector, 100% Moda Portugal takes companies to trade shows and on trade missions. Spain uses ICEX to help brands find buyers, agents, and distributors. These tools differ from Italian credit programs, but they intervene precisely at the point where the product meets the market.

Turkey has taken this model even further. TURQUALITY provides 50% funding—up to its established limits—for advertising, trade shows, trademark registration, consulting, designers, stores and showrooms abroad, and franchising. The stated goal is not only to produce better, but to transform companies with potential into global brands.

The difference lies in the industry’s approach. Italy focuses on how much credit to give for the creation of a collection. France, Portugal, Spain, and especially Turkey also consider how that collection can drive distribution, reputation, and exports.

The shift to 10% improves the credit, but the generosity of an incentive doesn’t depend solely on the percentage—it depends on the actual possibility of obtaining it. If the benefit doubles while access closes within 24 hours, the headline reports an improvement, but the cap limits its scope.

A refinancing would make it possible to process some of the pending applications. The broader issue would remain unresolved. Sixty million were enough to demonstrate just how eagerly the credit was anticipated; they were not enough to support the investments for the year for which they were intended. To support Italian design, a stronger—but also predictable—incentive is needed. Otherwise, 10% remains the headline figure, and availability is the deciding factor.