Let’s find out what types of loans are aimed at young people without a payslip. All the solutions offered to unemployed young people who therefore find themselves without work and without the necessary guarantees to be able to access Personal payday loans. We see the requirements and characteristics of these loans.
Loans for young people without payroll: European contributions for the unemployed even without guarantees
The main obstacle that you have to overcome when you need a loan is undoubtedly the one related to the requirements requested by the bank to be able to submit the request. In this article we will deal in particular with unemployed young people, who unfortunately in Italy are a very high percentage. For this category of customers it is practically impossible to obtain a loan by applying to a credit institution. The only solution offered by some companies is the presentation of a guarantor. This can be, for example, a parent or other relative who precisely guarantees in our place, and therefore presents the income guarantees necessary to have access to the credit and undertakes to pay the repayment installments not paid by the young beneficiary of the loan.
To combat youth unemployment and revive the economy of our country, every year the European Union allocates funds that are used by regional administrations to distribute subsidized loans. The first characteristic that defines this form of financing as the ideal one for all the young people who need a loan is that of not foreseeing any income requirement.
The subsidized loans provided through European contributions are in fact disbursed through the publication of notices that we will see in detail in the next paragraphs. The requirements of each call will concern the sector of the economy in which you intend to work and the expenses that must be incurred to carry out your project. These expenses must not exceed a certain threshold and at the same time they must be part of what are called the ” eligible expenses “.
These will depend precisely on the objective of the call for tenders, and must be strictly connected with the realization of the project. Unlike Personal payday loans, in this case we are dealing with financed loans, as we will not be able to use the money we want to borrow as we want.
European contributions represent a unique opportunity for all young people who want to start an individual business or set up a small company made up mostly of young people between the ages of 18 and 35. In particular, the subsidized loans that can be requested by participating in tenders from all regions of Italy are aimed at creating new start-ups that are characterized by a high technological and innovative content. The sectors of the economy affected by the subsidies range from agriculture to industry, passing through crafts, trade and tourism.
The most advantageous benefit of all is undoubtedly that of non-repayable loans. This type of financing is characterized by the fact that we will only have to repay part of the amount we will borrow. In particular, usually a non-repayable percentage is defined, which will obviously be specified on the tender itself. So if we are offered a loan of up to 50% without repayments, it means that we will only have to repay half of the amount we receive.
This solution is often offered to young people without payroll, as well as other types of benefits that are still quite convenient. For example, we are talking about interest-free financing or at a reduced rate. Also in this case we will have an important saving on our financing, as precisely no cost will be foreseen for the interests or a cost much lower than the one usually foreseen. Even when these types of subsidized loans are not provided, it is good to remember that European funding is in any case the ideal solution for all young people who intend to carry out a project.
The fact of not providing the request for income guarantees already represents a benefit in itself, which leads this type of loan to be the best in circulation and the only one to offer the possibility to the unemployed without guarantees to obtain the desired amount of money. For this reason we advise you to visit the website of your Region to consult the list of active calls and check if you have the opportunity to participate in one of them. To do this, simply read the announcement and in particular the specified access requirements.
Better loans for young people without work: active calls for subsidized loans to the unemployed
As we have said, the subsidized loans that are granted thanks to European contributions are managed by the various Regions. They are therefore the latter to publish each year calls to which it is possible to participate in order to obtain the desired funding. So let’s see what are the tenders that have been addressed to young people without a job. First of all, the “ Smart & Start ” call is active throughout Italy, which as easily deducible from the name itself aims to allow young people to start their own start up. The benefit that is offered is that of an interest-free loan of up to 80% of eligible expenses in the event that the company is entirely made up of young people up to 35 years. The beneficiaries of this call are all young people, unemployed and without guarantees, who are interested in starting a small start-up or who have been in it for no more than 48 months.
It is not necessary for the applicants to be resident in Italy, but only for the company to be located within the Italian territory. The expenditure plan to be presented must be between 100,000 euros and 1.5 million euros, and must include investments in plant, machinery and all the hardware and software components necessary for the production of the good or service offered. In addition, all expenses related to personnel management are admissible, and therefore the training expenses of the employees, as well as the consultancy of experts outside the company. In the event that the start up is established in the Abruzzo, Basilicata, Calabria, Campania, Molise, Puglia, Sardinia or Sicily regions, there is a further facilitation: in this case it is in fact expected that 20% of the amount disbursed is at lost fund, and therefore should not be reimbursed by the beneficiary of the loan itself.
Another very interesting call, still addressed to young people without jobs and guarantees is the one called ” Rest in the South “. In this case it is clear that the goal of the call is to reduce the flight of young people living in southern Italy and that due to lack of job opportunities they are forced to move to northern Italy or flee abroad. It is therefore a unique opportunity for all young people who will thus have the opportunity to create their own working activity. The regions affected by this call are Abruzzo, Basilicata, Calabria, Campania, Molise, Puglia, Sardinia and Sicily.
If you are resident in these regions, you can apply to obtain a loan of up to € 40,000, of which 35% (up to € 14,000) will be lost, while the remainder will be at zero rate. Thus all the expenses related to the development of an entrepreneurial project in the sectors of agriculture, crafts, industry or services could be financed, with a minimum spending plan of 50,000 euros. Thanks to this subsidized loan for young people, it will be possible to start not only a company or a cooperative, but also an individual company. So this is a concrete help to all the young people of southern Italy, who will be able to finally take advantage of an opportunity that will allow them to remain in their hometown without having to renounce to realize their entrepreneurial dream.