Today more and more young people find themselves with their backs to the wall economically, both as regards wanting to continue their studies and for having the opportunity to purchase any good or service needed.
Many boys and girls, therefore, think they can start the application procedure for a loan for young people, but often this becomes a real business precisely because they cannot fulfill the guarantee requests.
How can you offer a guarantee for a youth loan?
Unfortunately, lately, the Italian youth situation has been somewhat serious both with regard to unemployment and with regards to an effective job with lots of guarantees and paychecks.
With regard to the latter, in fact, it is always very difficult for a young person to have a permanent or even permanent job that can guarantee one hundred percent a paycheck or a Cud. The question of how young people can apply for and receive a loan arises.
The non-repayable youth loan: what are the possibilities
However, there is a veil of hope: many banks or credit institutions offer a specific product tailored to these particular customers or the Good Finance or some regional or local authorities promote various initiatives with social purposes that even provide for a percentage of capital said to lost fund or in a mild manner, without having to totally return them.
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Loans to finance the study: the possibilities
Let’s start by talking about the loan for young students without a paycheck. Many Institutes or Banks offer suitable solutions for young students who decide to finance their studies and training.
These loans are paid directly as capital into the boy’s current account and he can use this sum to pay for everything related to his studies: masters, books, specific courses, accommodation, everything related to his training.
When the student has finished his studies, he can then decide whether to return everything immediately or wait for a year to find a job and, once found, return the sum due through monthly installments. Obviously, in this case, the interest rates applied will be considerably lower than those of a normal personal loan.
Through these loans, the young person will not only have the guarantee that he will be able to continue and manage his studies better, but he will also have the opportunity to find work more easily.
Having the opportunity to continue your studies and to be able to follow them well is always an additional guarantee to find work considering the huge amount of unemployed young people that today exceeds 30%.
European subsidized financing
Given the growing demand for loans for young people, Good Finance has established a subsidized financing plan for young students or parents who cannot guarantee real support for their child’s study. In this regard, the Good Finance initiative started. It is a great opportunity especially for all students who have the necessary requirements to access part of the non- refundable funding that this project offers.
Right to the future constitutes a package of actions which concern: a fund for the home, a fund for study, a fund for precarious parents and a fund for patrons.
– Fund for the home: the state offers economic guarantees to young couples, in order to have access to a mortgage for the purchase or renovation of their first home.
– Study fund: it is a loan guaranteed by the State that concerns deserving young people and gives the opportunity to complete training or to undertake a course of study aimed at success.
– Fund for precarious parents: it guarantees young unemployed or precarious parents a fund to be transferred to the employer so that they are hired by him through a permanent contract, whether full time or part-time.
– Recent Fund: it is a fund that concerns medium and large private companies that want to invest in young people in order to enhance their structure for deserving young people from every point of view.
The youth loan, however, is not just for students. There are credit institutions that provide loans to unemployed or occasionally employed young people without putting too much pressure on guarantees.
For example, a maximum guarantee, in this case, can be represented by a guarantor who can in some way demonstrate an income aimed at extinguishing any installment debt.
Government policies, however, are increasingly committed to helping young unemployed people who want to get busy. You must have been unemployed for at least six months to get this funding.
These are called “honor loans”: being addressed to young people, you must be at least 18 years old and a maximum of 35 years old. The amount is paid in monthly installments and is addressed to both young Italians and foreigners as long as they have resided in Italy for at least two years.
Loan for young entrepreneurs
The aforementioned loans are also provided for young entrepreneurs according to law 95/95, initially created for the South in 1994 and then also destined for the Center-South.
These loans are always non-refundable or with the due interest rate subsidies and concern young people over the age of 18 and children under 36 years of age included.
The young people to whom this type of funding will be allocated can be resident in the European areas defined as “depressed” to set up new companies cooperatives and small cooperatives.
For these applicants, there are no time constraints and the projects to apply must concern both artisanal and industrial production and the supply of services to companies that however exclude public ones.
The investments are 50% non-repayable and 40% as a mortgage and if in the first two years of activity of the young entrepreneur. If you buy raw materials, there is an additional discount that can even affect 50% of the entire amount spent.
In these cases, the financing is of two types: the investment costs, which are those described above and the accompanying service to the planning which instead concerns a concession regarding the company profile of the young company.
To receive this type of financing, you must go to the Good Finance and fill out a request form to be sent by registered letter with return receipt.
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