Doc Servizi is the largest entertainment cooperative in Italy and is part of a network of six other companies that together cover all sectors of the cultural and creative industries, as well as the technology sector. Founded in 1990 in Verona with the aim of supporting workers in the performing arts, by the end of 2019 the Doc network represented over 8,400 members, with 33 branches across Italy and a turnover of more than €70 million.
Doc Servizi is committed to helping the entertainment industry navigate the economic impact of the Covid-19 pandemic, reshaping its support for the performing arts to achieve this. At a time when this support has been more essential than ever, UniCredit’s Social Impact Banking’s team support has been vital. In 2021, UniCredit supported Doc Servizi with an impact financing loan of €1.3 million, to be used as part of an investment plan designed to guarantee new employment opportunities for workers in the performing arts.
Part of this plan is to stabilise the professional position of workers in the sector, guaranteeing access to social protection mechanisms and providing unemployed workers the opportunity to develop new professional skills. As the loan falls within the scope of UniCredit’s support activities for profit and non-profit enterprises with clear and measurable social aims, it was classified as an impact financing operation. The offer terms therefore included subsidised financing and the possibility of a partial repayment of interest upon successful delivery of their core objectives.
This means that once Doc Servizi has achieved two of its core social goals, which include stabilising employment opportunities for over 1,000 workers between 2021-2022 and relocating over 400 workers through training courses, UniCredit will grant the cooperative an interest repayment of €10 thousand on the impact loan.
Demetrio Chiappa, Chairman of Doc Servizi