Among the categories that may encounter greater difficulties in accessing the world of finance, we find above all the young and especially those under 30. This difficulty can affect both the personal sphere (therefore the possibility of being able to obtain personal financing or linked to consumer credit) and that for starting a business. Precisely for this reason, over the last few years, initiatives have been carried out to offer subsidized loans for young people both privately by banks and directly with state or regional initiatives.
Subsidized or non-repayable loans?
When you want to open a business and you have no guarantees to offer if not the feasibility of a good business idea, a bank is unlikely to be willing to give the money you need if it does not have the right guarantees. These can be presented through relatives or family members, or by accessing the guarantee funds. Some of these funds may also provide direct disbursement or, based on an allocation, a certain amount of money is granted.
The grant type represents only one of the possible benefits. A more flexible or sustainable under 30 loan can, for example, be obtained by establishing a wide time interval before having to make the repayment or by applying very low interest rates.
These loans granted to help the working activity are granted on the basis of the possession of specific requirements that are indicated in the various calls for proposals. It is however always necessary to check:
- if there are limitations regarding the possibility of requesting other loans;
- the percentage coverage of the fund ;
- the type of project financed;
- if a business plan is needed;
- in the particular case of loans destined for under 30, if it is intended age reached or not yet completed;
Loans that banks like OneCash, Bankate and OneBank provide on a regular basis in their offer can also be considered subsidized loans for the under-30s (or in any case for young people). It should be noted that young people sometimes have subsidized treatments even for the purchase of some products with the provision of dedicated loans, as in the case of Ikea loans, which, however, provide for a maximum age of 34.
State subsidized loans for young people: law 95/95 ex 44/86
This law actually came into being in 1986 as a support for youth entrepreneurship in the South and at the end of 1994 took on a national dimension, taking on the characteristics possessed so far. In its generic legislation it reports the benefits to a range of between 18 and 35 years even if it is sufficient that the applicant company is composed of at least ⅔ of under 30 (in particular from 18 to 29 years).
Companies must be located within the Italian territories indicated as ‘depressed’ by the competent EU body. Depending on the area, the coverage of subsidized loans varies, which in the south can exceed 90% of the investment. To these specifically financial facilities there are also those linked to support services ranging from initial training to mentoring in the first phase of effective management of the company.
The bank loan for the under thirtys
The banks that pay particular attention to the under 30 are numerous but not many. Often the offer is oriented to the economic support of one’s studies, to pay a master’s degree, etc.