Monthly Archives: January 2020

2019 Loans: What are they and who can apply for them.

News and advances on non-repayable loans 

News and advances on non-repayable loans 

Loans to the non-repayable fund are economic measures aimed at increasing the economy and the development of the territory by providing a loan without return obligations.  who fall within certain age and income thresholds.

Thanks to the use of these funds it is possible for many individuals to apply for a loan to start their own business or to modernize an already started business.

The method for requesting a non-repayable loanably depending on the type of loan for which you are applying.

However, there are specific precautions and very useful considerations if you are thinking of applying for this type of financing.

If you are interested in finding out which types of financing are suitable for your criteria and especially how to apply for one in your city, here are a series of tips and indications for submitting the forms and requesting your Lost Fund financing as well.

Non-repayable loans: characteristics and requirements 2018 – 2019

Non-repayable loans: characteristics and requirements 2018 2019

As already mentioned, non-repayable loans are cash loans disbursed by numerous institutions, both state and European, to support entrepreneurs of all categories who do not meet the necessary requirements for applying for a bank loan.

This type of financing often has no repayment constraint but it is not always the case: in fact, before submitting any question it is good to inquire about the requirements necessary to access it, about the services provided according to your starting condition and, above all, to formulate an accurate a project that shows in detail the type of business you intend to open or modernize.

This step will be essential since it will help you understand the real starting costs to be expected when sending the request. The requirements also change considerably depending on the size of your project and the nature of the financing, just think of all the measures taken during this year to facilitate young entrepreneurs and career women under 30 or under 35.

In fact, even if you meet the requirements necessary to open a bank loan, many of these calls are aimed at multiple categories of people, thus giving anyone the possibility of accessing a non-repayable loan.

Who pays out the Loan Funds?

Who pays out the Loan Funds?

Loans to the non-repayable fund can be divided into two macro-categories: directly managed, then disbursed by the European Union, or indirect and therefore disbursed by local and territorial entities with the aim of allocating community funds among all subjects that are suitable .

Numerous loans and non-repayable loans are in fact provided by municipalities, regions, provinces and associations of various kinds in order to increase the local economy and combat unemployment.

How to obtain a non-repayable loan?

How to obtain a non-repayable loan?

To begin with, we advise you to periodically check all the local and unpublished notices in the specific reference newspapers. Or, it is further possible to contact National Agency for Business Development which annually publishes numerous calls for proposals aimed at more categories of subjects.

Once you have chosen the call in accordance with what your wishes, objectives and initial requirements are, simply send the appropriate request for funding via the dedicated portal: before proceeding with the sending, we invite you to carefully evaluate all the options in order to choose the type of Lending Fund that is most suitable for you. Once the request has been invited, you will have to wait for the institution in question to make a first selection.

Only then will you be contacted for an interview where you will have to show the business plan complete with all the necessary data so that you can expose all your ideas or projects.

Certainly a good business plan is a very important tool to convince investors to disburse the loan, therefore we advise you to complete it carefully also with the help of your trusted accountant. Within the plan you will have to foresee the start-up, labor and restructuring costs, tangible assets involved but above all it is necessary that there is a profit plan capable of showing what the economic objectives you want to achieve are.

Once you have passed the oral exam you will be able to receive your loan within the terms and conditions set out in the announcement.

Limits and time constraints to which the entrepreneur is subject

Limits and time constraints to which the entrepreneur is subject

The characteristics of a non-repayable loan do not provide for the return of capital through loans or interest, but not always. There are certain types of loans which provide for the repayment of a part of the capital in a limited period of time and which therefore are only partially non-repayable.

In general, the entrepreneur to whom the loan has been granted must guarantee the full exercise of its activity from the moment of subscription up to a period of 5 years, maintaining the position of its headquarters. Even the goods and tangible objects involved must be used from the moment of disbursement up to 5 years, as the purchase of them also derives from the funds disbursed for the opening of the company.

Is it possible to cumulate a non-repayable loan with other loans?

Is it possible to cumulate a non-repayable loan with other loans?

One of the most interesting features of non-repayable loans is their accumulation: these types of loans can in fact be combined with other types of benefits, loans, loans and much more and do not limit in any way the worker who requests them.

Thanks to this possibility, those who are beneficiaries of a Loan Fund can simultaneously enjoy other benefits deriving from other calls and acquire all the tools to start and maintain the success of their business.

The characteristics of these loans perfectly respond to very complex work and market needs in aid of creative entrepreneurs who are eager to contribute to the development of their community and territory.

Non-repayable loans at European and national level

Non-repayable loans at European and national level

The European Community, responsible for the distribution and disbursement of funds destined for the subsidy of numerous projects, every year allocates capital to various types of funds.

Many of the loans allocated through these types of non-repayable loans aim in fact to bridge the economic and social disparities in the various countries of the union and to improve the health of each territory through a more equitable distribution of the resources available between the various regions.

Even some of the major production sectors such as agriculture or maritime activities can count on specific funds created to support anyone who requests it, but not only. Even artistic and cultural associations can benefit from this type of subsidy, which is also designed to guarantee the funding of all the bodies, artistic communities and associations of cultural dissemination that are so important for our territory.

In Italy only in the last two years has there been a considerable increase in activities opened by young people under 35, an important testimony to the success of the economic measures used to combat the phenomenon of youth unemployment.
For more information, please consult the Invitialia online portal to clarify and resolve any doubts or concerns.

Loan for modernization – where to get it quickly

Homeowners know how to sing a song about it. Regardless of whether you want to install thermal insulation, replace the roof or install a modern heating system, every modernization costs a lot of money and not everyone creates sufficient reserves to pay for the modernization. A loan for modernization can often be the alternative if the modernization is not to be put on the back burner.

The loan for modernization is a very special loan that is designed and provided for precisely this purpose. As a rule, these are investments in your own four walls that are worthwhile because the living comfort and the value of the property can be increased.

In addition, modernizations often lead to cost savings in operating costs, and electricity and water are saved, which means lower ancillary costs.

What to take credit for modernization

credit and money

Low-cost construction finance is only granted by banks from an amount of 50,000 euros. If the cost of the planned modernization is less than 50,000 euros, the modernization loan can be the best choice. However, one should bear in mind that if an existing loan contract already exists with the house bank, an increase in the loan is also possible and maybe even cheaper. Here it depends on the negotiating skills of the individual.

In addition, one should bear in mind when planning that there are certain criteria for modernization that must be met in order for the bank to issue a modernization loan on favorable terms. When it comes to just maintaining a property, one cannot necessarily speak of modernization, and even if you only want to buy new furniture that is modern, it is far from modernization.

In the case of a modernization, structural changes have to be made which either serve to improve living comfort, such as modernizing the sanitary facilities or to save energy. In other words, those who only intend to renovate and buy new furniture will not get a modernization loan. But if a new bathroom or modern heating system is installed, it is a modernization that can definitely be realized with a modernization loan.

Modernization loans are granted quickly

money and calculator

In contrast to traditional home financing, modernization loans are processed very quickly by the banks and are usually paid out within a few days. In addition, there is no entry in the land register. You remain flexible with terms because there is also the option of staying under 60 months, which is not possible at all with classic construction finance, for example.

A loan for modernization is usually granted after the presentation of the current earnings statements and a certificate that the property itself is being used. If requested, modernization loans can be repaid and redeemed early without paying a high prepayment penalty to the bank.

There is state funding for some modernization measures, the funds are provided by the municipalities and / or KfW, the planned measure is aimed at saving energy and / or using renewable energies. You should inquire about the individual measures through your house bank.

Increase Credit bureau-free credit.

A loan is Credit bureau-free if the lender neither makes an inquiry to Credit bureau nor registers the loan there. In Germany, mail order companies often do not involve Credit bureau in granting installment payments to existing customers, but a loan with cash payment without Credit bureau can only be obtained from the pawnbroker or from your own employer, so that Credit bureau-free loans are applied for in Switzerland.

A credit increase consists of increasing an already approved and partially repaid loan. Compared to the conclusion of a new loan contract with another provider, the increase offers the advantage of granting all repayments to a creditor. In addition, a previously agreed repayment of the existing loan represents a positive internal credit rating.

Top up loan or take out new loan?

Top up loan or take out new loan?

If customers have already taken out a loan in Switzerland, it will be easier for them to top up their existing Credit bureau-free loan than to conclude a new loan contract without Credit bureau. The reason is that the borrowing was not sent to the German Credit bureau, but to the federal USD, and the Best banks usually only approve a new loan without Credit bureau after the old liability has been repaid.

How does the increase work?

How does the increase work?

Best banks usually allow an existing loan without Credit bureau to be increased as soon as the amount still to be repaid is less than 1200 USD. The maximum loan amount granted for most Best money houses is 3500 USD, so that another 2300 USD can be borrowed at this time. Since the bank has its own experience with a customer who wants to top up his Credit bureau-free loan, a higher total amount is often possible.

The prerequisite is, of course, that there has been no delay in payment of the loan repayment during the previous loan term. Furthermore, Best banks only approve increases if the income at the time of the extended loan application continues to reach the required minimum level. Some Best banks do not take into account the age limit of fifty-five or fifty-eight years for the initial loan application.

With the new lending, the previous loan is combined to form a total loan, the interest rate of which is generally the level of the debit interest on the redemption date. Of course, a Credit bureau request will still not be made when topping up a Credit bureau-free loan, especially since the non-membership of the bank in the German credit protection association has not changed.

However, the Best bank reports the credit increase as well as the initial borrowing to the federal USD. When borrowers top up their existing Credit bureau-free loan, they agree on a new loan term that relates to the total loan. Best banks offer different loan terms.

A short term leads to quick debt relief, while longer loan terms are associated with lower monthly loan rates and thus give the borrower more financial scope.