How to Obtain a Financing: The Requirements – Loans

Obtain a loan

Obtain a loan

In this difficult period of crisis and stagnation, it may be important to be able to obtain a loan, to be able to give new life to one’s business ideas or simply by necessity. However, to obtain them, a series of requirements must be presented. In this case, in general, we talk about the requirements that a bank or a credit institution deems essential to be able to grant the loan.

Here we will illustrate what are the basic conditions normally required, but always bearing in mind that each bank makes its own assessments and can act differently from the others. In fact, credit institutions often want to satisfy a series of requirements that they consider valid for internal reasons and can also decide based on the latter whether or not to grant a loan.

The general condition is the same for everyone: the bank lends de naro to those who offer the best guarantees of being able to return it after some time. This condition has sometimes been considered rather lightly in the past, causing not a few problems, so currently the evaluation of these “guarantees” has become more restrictive.

In general, a distinction is made according to the categories.

For employees, the requirements are: having a permanent job for at least six months (12 months for some credit institutions), having received the payment of the last three payslips, presentation of a regular CUD model and identity documents. For those who work on their own, however, it is essential to show the financial statements, to verify the company’s solidity.

Non -repayable loans

Non -repayable loans

There are also non -repayable loans (and therefore at least some of them are not required to be repaid) or subsidized funds (with particularly low interest rates) that may be required to encourage the creation of new businesses or commercial activities, provided by the State body.

These state funds are not granted equally throughout Italy or to all subjects, but certain requirements must be met, such as: being part of the categories of subsidized subjects (unemployed, young adults under 36, women, those who want to open franchises, not already equipped of VAT number). In addition, you must have resided for at least six months in the regions that benefit from it, namely Lazio, Campania, Puglia, Basilicata, Calabria, Sardinia, and some municipalities chosen in other regions.

Also in this case, the general conditions may require restrictions depending on the type of activity you want to start and it is therefore advisable to inquire in detail at the institutions involved in the disbursement of the loan. This special state funding can be requested to open franchised businesses, for professional studies in autonomy, for commercial stores, for bars and restaurants and will be a maximum of $ 26,000 for self-employed workers and not more than $ 130,000 for micro-businesses.

Then there is the formula of personal loans : the advantage of facilitating personal financing for young people is also that of not requiring young people to have a permanent job as a prerequisite. In fact, it is sufficient to have worked with any contract for at least 18 averages in the two years preceding the request for funding. In this case the loan does not exceed the duration of five years with an amount usually between 2000 and 15000 USD.

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