The facilitated personal loan
The repeated interventions of the legislator, the implementation of European funds, and a targeted offer by the banks, have increased the number of loans that fall within the category of subsidized loans. In general it can be said that these are loans offered on favorable terms, on the basis of laws or agreements, and reserved for certain categories of persons falling within the canons established by the regulation.
That is, a loan for the purchase of books, computers, educational material, or the payment of University Masters, for atypical workers.
Other loans that fall into this category are loans for young people and for women, often provided through the creation of special funds by the regions (such as the Lazio Region, Sicily, Puglia, etc.). The local nature of these funds forces the potentially involved categories to stay constantly informed. It is in fact loans with a generally temporary or revolving character (therefore until the allocation is exhausted or until the deadline for the assignment).
Finally, there are forms of financing that are structural in nature and that can only be granted to specific categories. These subsidized loans are stable but are limited by the allocations periodically made, and can only be granted for certain purposes or liquidity needs. For example, these are subsidized INPS loans, both in the version addressed only to former Ipost post office employees and former Inpdap public employees, and to all pensioners.
What is the facilitation?
The benefits often concern the interest rate and the guarantees.
By way of example we recall the Family Bonus that has exploited both aspects (subsidized rate and access regardless of income strength) and also the initiative “An [email protected] for a PC”, which provided for a loan guaranteed by the State, for the ‘purchase of a portable PC for the price of 1 euro per day (the price of a cappuccino), intended for students regularly enrolled in state universities.
Or the most recent Youth Bonus or the Teacher Bonus and the Music Bonus. In these latter cases it is a benefit (one has a credit line that can be spent without restitution) and not a real form of financing, even though it is a benefit dedicated only to specific categories.
The loan agreement for deserving students
If instead we consider the improvement conditions deriving from agreements between private individuals and universities, we find a different example of facilitation with the loan ad Honorem proposed by OneCash Bank to all university students enrolled at the participating universities. The purpose is to finance the entire course of study and, possibly, entry into the world of work.
In this case the facility consists of obtaining a credit line that can be used freely for a maximum of 3 years without payment of the installments.
Therefore, it is not a question of facilitating economic conditions, but of repaying the loan.
At the end of the agreed period, in fact, the sum used + accrued interest will be transformed into a repayable personal loan, based on one’s availability, in a period ranging from 1 to 15 years.
It is also possible to use an optional time period, of a maximum duration of 2 years, in which the payment of the installments is postponed, in order to enter the world of work with more serenity.
We find other similar examples with DER and Astro. The common aspect of the different proposals of the big banks is linked to accessibility criteria often conditioned by the scholastic “merit” of the student.
Indirect funds and “benefits”: microcredit
The formula of the “guarantee” fund was the one most used in the last 5 years, thanks above all to the assertion of microcredit. This very often requires that the applicant obtains the strengthening of personal income guarantees with access to the fund itself. This means that the allocation is not directly applied, but the sum requested will be paid by a bank that has an agreement with the institution that established the Fund.
In this type of financing the lending credit institution is ‘reassured’ by the fact that if the applicant, who has problems accessing credit, does not have to repay his loan, the fund will do so. For this reason, when the fund ceiling is entirely occupied by guarantees, it can no longer be used. Unlike student loans, agreements between banks and institutions also define reductions in the interest rates applied.
Subsidized loans to companies or small and medium enterprises
With regard to this sector, and with reference to financing, there are two categories of subsidies: subsidized loans for the start-up of a new business activity, and subsidized loans for the support of an existing and already started activity.
This type of loan is assigned through a call for tenders, which works on the basis of a regulation which indicates:
- type of expenses and activities allowed;
- subjects that can benefit from it;
- cost coverage percentages;
- percentage of the subsidized rate;
- presence of a quota, if foreseen, with a grant.
Funding opportunities can occur at European, national or regional level, through the allocation of funds that have a specific deadline, or are until resources are exhausted.
At the Bankate it is possible to request detailed information about the type of intervention, the sector concerned, the beneficiaries, the total budget or the percentage of funding, the deadline and the references for further information.
At the banks it is possible to access subsidized forms of credit, for example we can mention the Law 949 Artisans, which provides for public contributions to facilitate the financing of craft businesses.
The Sabatini Law is also very important, established to facilitate the purchase or production of machine tools (including agricultural machines).
Due to the difficulties that emerged during the period of crisis and the reduction of employee-type employees, to encourage self-employment, Invitalia was also born. In these cases, to access the funds (the allocation of which is not constant but is strongly influenced by budgetary policies and resources from the European community) the minimum requirements must be fulfilled, which very often have benefited young people and the unemployed.
Even in this case, however, good communication is lacking, so you need to keep yourself constantly updated by going directly to Invitalia’s website from time to time, or by using sites that deal extensively with the various news.