Are loans and non-repayable loans possible for protesters and bad payers ? It is good to clarify immediately that it is extremely difficult, if not impossible, to access these types of financing when registered in the data archives for non-payment of installments of a previous loan, or even for protests related to bank checks and bills of exchange issued, however for merely informative purposes we propose some possible solutions that are proposed above all to certain categories of subjects who may be involved in financial difficulties, state or supranational funds, subsidized loans addressed by trade associations, even loans to combat poverty in collaboration with social solidarity organizations. We then see the possible non -repayable loan opportunities for protesters and bad payers, so we suggest in any case to request confirmation from those directly responsible for the provision of access requirements. http://crossbowusa.com has details
The types of financing
Speaking of loans and non-repayable loans for protesters and bad payers basically means referring to sums of money disbursed to categories of subjects particularly disadvantaged by local or national institutions through a call for proposals: they are called non-repayable because the funds received must not be repaid, or only in part, under very favorable financial conditions, for which we speak of subsidized loans. Now this type of loan very often provides for exclusion to those registered in the databases for previous financial problems, and much also depends on the type of negative report: the greater the seriousness of the problem, the more it restricts access to credit, even for those without a grant. Here we will deal with four areas of financing that we have identified as a loan or a subsidized loan, namely:
- Honor loan
- Subsidized sector loans (traders, artisans, etc.)
- Loan of hope
To stimulate employment, especially in the most depressed geographic areas, the State provides an instrument called an honor loan through the Invitalia agency, which also stands as possible financing for protesters and bad payers : however, even for the loan of honor there are of access limits, that is, you must not have a criminal record or executive or insolvency procedure, for which foreclosed and failed persons are unable to obtain such sums of money. This honor loan is a loan designed
to generate new work activities through self-employment and the creation of businesses aimed above all at young people under 35, women, and inhabitants of economically disadvantaged regions such as those in Southern Italy.
The regions affected by the funds made available by Invitalia are:
The features of the Invitalia honor loan
The loan of honor provided by Invitalia is characterized by a sum of money thus composed: a part that can reach up to 50 per cent with a non-repayable fund, ie not subject to any refund, and another part at a reduced rate to be repaid in 7 years. The difference compared to the normal loans asked to credit institutions and financial companies is that there are no guarantees to present for the purpose of obtaining the capital, but it depends exclusively on the funds made available each year and disbursed through tenders, until the funds are exhausted themselves. The features of this Invitalia honor loan can be summarized in the following diagram:
- Micro-enterprises : the planned investments are characterized by a non-repayable grant of approximately 50 percent and a subsidized loan for the remaining 50, with an interest rate of 30 percent of the reference rate in force at the time the contract is stipulated of financing. The repayment takes place in a maximum of 7 years through constant quarterly deferred installments.
- Franchising : also in this case the facilities provide 50 per cent of money on a loan and a subsidized loan for the remaining half to be repaid in 7 years at the most.
- Self -employment: an eligible total investment of 25,823 euros is expected, while the subsidized loan for investments cannot exceed the amount of 15,494 euros. The grant for management costs in the first year cannot exceed 5,164.57 euros.
Important: there is another type of loan of honor intended for students not to be confused with these described by Invitalia, and which are provided by banks and financial institutions on various favorable terms, and which can also be payable to bad payers, depending on of the risk policies applied by the individual institution.
If, therefore, the amount paid by Invitalia can also be considered a non -repayable loan for protesters and bad payers, there are still requirements to be met:
- Residence in Italy or at least 6 months in our country for non-EU citizens
- Applicants’ age (variable depending on the type of call)
- Unoccupied status (or in any case willing to leave the job following acceptance of the loan application)
- The registered office, administrative or operational office must necessarily be located in a municipality of one of the eight regions of Italy listed above
- Presentation of a detailed business plan in the case of a new start-up company
Going to the Invitalia website you can learn in detail how to send the application through the forms: for example
for 2018 it is possible to send applications for the Pestol Sida financing project, which allows the receipt of up to a maximum of 50,000 euros, paid through:
- a non-repayable contribution of 35 percent of the expenses
- a bank loan guaranteed by the Central Guarantee Fund for SMEs
- an interest subsidy to cover interest on bank loans.
The non-repayable grant is always paid by Invitalia, while the remaining 65 per cent of the costs is obtained in the form of a subsidized loan granted by one of the affiliated banks. The peculiarity of this loan, which has a duration of 8 years, is to give you the opportunity to benefit from the Guarantee provided by the Guarantee Fund for SMEs, for which the State guarantees up to 80 percent of the amount requested by a beneficiary.
To support groups in difficulty, microcredit and microfinance opportunities have existed for many years, funds that the state provides in collaboration with public administrations at national, regional and local level, as well as with credit institutions.
The normative references that regulate microcredit activities are contained in the Legislative Decree n. 141/2010 which defines and regulates all the activities of this financial branch, defining first of all to article 111 which categories of subjects can obtain these small loans: it is about
- individuals, associations and companies (of people, companies or cooperatives) who want to start a self-employment activity or a micro-enterprise
- individuals in conditions of economic and social vulnerability
The characteristics of microcredit loans are as follows:
- A maximum amount that can be financed can be 10,000 euros to support people in extreme poverty and at risk of social exclusion, or an amount ranging from a minimum of 25,000 euros to a maximum of 35,000 euros for starting a ‘economic activity, depending on whether the loan was deferred over time, if the company that received the microloan repaid the loan regularly in the last six months and if it has achieved the objectives of the development plan set at intermediate stages on the basis of as planned with the funding body
- Loan duration up to 7 years
- Technical assistance and monitoring activity by the funding body to ensure that the loan is used in the specific implementation of the activities for which it was requested
Having explained what the loans are through microcredit, inevitably the question we ask ourselves is: are loans and grants for protesters and bad payers to be considered ? What we can say with certainty is that some of these tenders are actually open also to bad payers, while for protesters and other subjects who have had particularly onerous financial problems there is no possibility of access to credit. In any case, for more information, you should inquire with national and local microcredit institutions, as depending on the calls and the related funds made available, there are certain access requirements, so in some cases, even those who have had problems related to failure to pay the loan repayment installments, could however obtain a sum through this microfinance circuit.
Sector financing: are they accessible to protesters and bad payers?
Some types of self-employed workers who have been particularly affected by the economic crisis, such as artisans and traders, can count on the help of sector associations that support their respective production categories: we are talking about institutions, just to mention some of the major names, since there are also local association networks operating in every region of Italy that perform the same functions. These associations provide
loans and subsidized loans, on the basis of funds made available at regional, national and European level, which offer loans at very advantageous interest rates, with variable duration of debt amortization.
On the basis of the information available to us, we understand that these subsidized sector loans cannot be disbursed to bad payers and protested, but we always suggest that you seek information from the aforementioned entities to be sure beyond any reasonable doubt. For these productive categories in crisis it would be better to request a loan from the trade associations before finding themselves unable to honor the payments, and thus be entered in the registers such as the end-to-end knowledge company, which prevent access. Or strive for cancellation in other ways, if possible, before you can then request help from these funding bodies.
Loan of hope
A type of loan that can be disbursed to anyone in difficulty is the so-called loan of hope, intended for all those who have documented problems of access to credit: these are not particularly high sums, but can help serious individuals economic difficulties, entrepreneurs and traders to relaunch a small business, or even the unemployed who want to re-enter the labor market through a path of professional requalification. In this scenario we find ourselves faced with loans and financing for protesters and bad payers disbursed without stringent criteria that leave those who have had misunderstandings and negative signals in the banking circuit out of economic aid. The loan of hope
was born in 2009 by the will of the Italian Episcopal Conference in collaboration with the Italian Banking Association: this financial contribution at a subsidized rate allows for up to a maximum of 7,500 euros for families, while those who have a business can go as far as asking up to 25,000 euros. The amortization plan has a maximum duration of 6 years, including 12 months of pre-amortization, and in the event of early repayment of the residual debt there are no penalties. For all the detailed information on the loan of hope and how to apply for funding, you must go to the Caritas office in your area of residence.
Let us once again remember that not all categories of subjects who have financial problems are identical, ranging from the less serious cases in the eyes of the credit system (bad payers), to the categories with greater restrictions: in this summary table we propose all the possible subsidized and non-repayable loans for protesters and bad payers to find their way more easily:
|Category of subjects||Honor loan||Sector financing||Microcredit||Loan of hope|
|Bad payers||Yup||No||In some cases||Yup|
We have seen how loans and non-repayable loans for protesters and bad payers are rather complicated to obtain, especially for certain categories of subjects, such as those who have been foreclosed or in bankruptcy proceedings, while other applicants with negative reports can actually have some more possibilities, to get back into the game with a new work and entrepreneurial activity, or to support the already existing one. For those who do not have other opportunities to access credit, we suggest as a last resort to contact the institutions that provide loans with bills of exchange, or for those who have opportunities in this sense to go to a credit institution or a financial company with a solid guarantor and reliable that can allow the obtaining of a capital.