Many young entrepreneurs are going to have access to loans that can help them realize their dream, which is to start a business. Certainly financing young entrepreneurs is the best thing to do to boost business in Italy, to promote employment and economic recovery.
The laws governing loans for young entrepreneurs are:
- Law 95/95 on financing for young entrepreneurs;
- the law 263/93 integrated in 1999 that offers grants with lost funds or subsidized rates for young entrepreneurs;
- Legislative Decree 185/2000 on incentives for self-employment;
- Legislative Decree 29/2001 on the Regulation of incentive connection criteria for self-employment.
However, Law 95/95 cannot be combined with other benefits.
Who are the recipients of concessions and non-repayable loans?
Children aged between 18 and 35 who form new companies and cooperatives.
We recall that non-repayable loans are loans with no obligation to repay the sums that have been lent; instead the loans at subsidized interest rates are much cheaper (up to 90%) than the classic ones, the facilitation rate varies depending on whether you start the business in Northern Italy or Southern Italy, then depending on the region.
Who to contact for a Loan for young entrepreneurs?
The first resource we can suggest is that of the Guarantee Fund which allows, through registration, access to interesting funds designed for young entrepreneurs, such as the Employement Fund.
First of all, to be able to enroll in the Youth Guarantee it is necessary to be aged between 18 and 29, to be Neet (so young people who do not study and do not work). If you do not have any Business Plan ready for your business, Youth Guarantee allows you to attend a course divided into two phases in which future entrepreneurs are helped to understand the basics of the business, the formation of the business plan, in other words how to go from idea to action. At the end of the course the Business Plan is designed and then the loan can be accessed.
If you already have the Business Plan ready, if you have the required subjective requisites, all you have to do is sign up for the Youth Guarantee and directly request access to the Loan for young entrepreneurs SELFIEmployement Fund.
In this case, the contribution is either non-repayable or extremely facilitated, to allow young entrepreneurs to start with initial investments to do business. The facilities in general are much more pronounced in economically depressed areas such as those in southern Italy.