Despite every bank or social security institution and every call for tenders provide specific conditions for young honor loans, there are in fact some features that are common to such loans. The subsidized rates , first and foremost, vary in their components but which, in some cases, even translate into zero rates. The time frame from which the loan must be repaid, generally longer than traditional loans. And, not least, the fact that a good percentage of the loan obtained is a non-repayable loan.
In other words, before trying to ask for a loan of honor, it can be useful to inform yourself properly and carefully evaluate the different formulas provided by those who deliver them. Beyond that, it goes without saying, consider the basic requirements to be met in order to exploit a measure of this type.
Who can apply for young honorary loans and when
In fact, in fact, and precisely because they are designed to promote the country’s economic growth, especially in critical areas, the Invitalia honorary loans – from the name of the national agency that deals with them – are aimed above all and except in specific cases to the unemployed , over 35 , women who reside in regions such as Abruzzo , Molise , Campania , Basilicata , Calabria and the Islands ( Sardinia and Sicily ).
In other words, it may be useful to make a distinction between the various types of young honor loans and how to obtain them. The areas covered by this type of financing, first and foremost, concern
- university education ,
- self-employment ,
- the micro-enterprise
- and franchising .
The honorary loan for students
In the case of an honorary loan for university students , the measure is aimed – as it is easy to understand – at favoring university education or the completion of extra-university training courses that include the attendance of masters, specialization schools, doctorates and post-doc, in Italy or abroad depending on the formula. The sum paid should be used by the student to cover not only the payment of tuition fees and tuition fees but also to support other expenses (study material, board and lodging) related to the educational path. The duration of youth loans of this type is variable but rarely more than three years and the sum is generally paid in different installments.
There is also a criterion of merit on the basis of which the loan to the student is attributed first, and eventually re-confirmed afterwards: it is possible, therefore, that one of the various attestations is required for one concerning exams taken and credits already obtained from the signed up. It goes without saying that, upstream, the economic situation of the student and, if necessary, of the family of origin are also evaluated. The most interesting aspect of young student honor loans is, however, that they provide a component – generally not less than 10% – with a non-repayable loan, and a guarantee period – not exceeding three years – within which the repayment of the loan is frozen just to allow the student to find a job that allows him to do so.
When you are trying to get an honorary loan for students, the best idea is to get information from the appropriate offices of your university. Not infrequently, in fact, these close agreements with banks and credit institutions that make it easier for their members to access discounts of this type.
How honor loans work for the self-employed
On the other hand, there are different goals and forms for young honorary loans for self-employment . As implicit in their name, they are measures and facilities for those who want to start their own business or work independently and reside in one of the Regions for which this type of measure is available. Among other things they require that
- the sole proprietorship is operating in the production sector or in the service sector , but not in the agricultural sector ;
- the capital obtained is used for expenses that relate to equipment, plant, machinery, tangible and intangible assets, property renovation, user payment;
- the worker has been unemployed at the time of the request for at least six months ;
- the investment does not exceed € 25,823 .
Once obtained, the loan must be repaid at a reduced rate within five years, with the exception of the non-repayable portion only.
As mentioned, however, even a young man who wants to do micro-enterprises can access special loans of honor provided by banks and other financial entities. These formulas are intended for those who intend to create a company and include:
- a maximum of 129,114 euros ,
- of which generally a 10% grant for the first year of activity
- and the remainder refundable at a reduced rate , generally within the eighth year from the time of granting,
- to be used for investment expenses, such as those for the purchase of machinery or for the maintenance of buildings, and for operating expenses.
It may be useful to know, in this sense, that if the company to be founded is an innovative company or startup, the measures and facilities provided are specific and the amount that can be financed is decidedly higher, even if it is provided with different formulas.