If you want to carry out your entrepreneurial project and perhaps become the founder of a start-up, you will need to have a good initial amount of money. In these cases, among the various James Steerforths to be evaluated we recommend that you take a look at non-repayable loans. Thanks to these particular financing solutions you can have access to a sum of money using special discounts for the repayment of the amount. Let’s see specifically what it is.
Non-repayable loans: what is it?
How many times have you ever had an idea, a business project that you want to finance but not have the economic resources to do it? If you do not have the initial capital to invest in the start-up phase of the project, the only thing you can do is to ask a credit institution to apply for a loan. In these cases, however, it is necessary to provide the chosen bank with solid guarantees, to prove that it is able to return the requested sum.
In the event that you do not have such guarantees or for other reasons you could not get the loan from the bank, you can apply for a non-repayable loan. This particular line of credit differs from a normal loan in that the sum of money obtained should not be returned.
It should immediately be pointed out that non-repayable loans are disbursed only by particular institutions and at particular times and when the project to be financed proves to possess strong growth opportunities. So, if your business idea should be such that it positively impresses these organizations, you may see this line of credit activated to set up your business.
Before going into detail, know that these loans are often aimed at encouraging female and youth entrepreneurs or, more generally, the creation of start-ups. In any case, these loans are only required by companies that are interested in investing in a particular sector that is considered strategic.
Non-repayable loans: who are they given from?
Fundamentally, these funds are allocated by the European Community, which entrust the State and the Regions with funds to invest in the creation of new initiatives with different distribution methods. In almost all cases, however, the funds are activated directly by the European Union and are then managed on the territorial basis of the regions concerned.
The funds made available by the European Community are often those with the most important sums. To have a clear view of the calls for tenders present in order to have access to these lines of credit, the European Union website has a voice on the matter that you should check very often, so as to be able to identify the initiatives that are periodically launched.
Alternatively you can also go to the offices of your Reason of residence, or visit the official websites, to get more information about it. In any case, know that the funds are almost always activated for particular sectors such as education, tourism, agriculture and new technologies. The funds disbursed by the State are instead directed to a different category of workers, often unemployed or eager to start a business.
These, unlike European Union funds, are not paid continuously. Also in this case the best thing to do is to stay up to date by checking the website of the public administration website. If filling out an application for a loan request is too complicated, we remind you that there are companies that help you in compiling and analyzing the feasibility of the project. Obviously, having to invest a small percentage of the capital to pay for the work done by these companies should be taken into account.