Loan Funds: How Do They Work?

If you are a self-employed person and you are thinking of applying for a loan for your work, you will certainly be able to consider non -repayable loans for freelancers. This is a great opportunity offered by the European Union, which makes available some calls to grant resources aimed at supporting its own working activity.

To date, this type of funding exists for different types of professional figures. So if you need to get funding to cover the expenses related to your professional activity, it will be useful to know that thanks to the European Union you can take advantage of some tax relief and then launch yourself into your new business with greater confidence. In this article we list the opportunities available to you.

Loans for freelancers: the calls available

Loans for freelancers: the calls available

Non-repayable loans for self-employed professionals distributed by the European Union are distributed among the Member States. In Italy, resource management is entrusted to individual Italian regions. The last program of the European Union has allocated over 44 billion euros for our country, which have already been distributed since 2014 and will continue to be disseminated until 2020, on the basis of sixty regional operational programs ( otherwise known as POR) and 14 other national operational programs (PAN).

Each of them is addressed to the most disparate initiatives that are connected to numerous sectors of the professional world. But what do these tenders actually consist of? They correspond to the possibility of accessing tax breaks, state or regional contributions to start a new business, or real non-repayable loans, the topic of our interest.

In addition to this solution, there is a second route that provides for participation in other initiatives available at European level: among these we count Horizon 2020, aimed at promoting the research and development sector, or the SME Instrument, a fund made available for Small and Medium-sized companies. Participation in this call for applications requires the submission of an electronic request.

How to participate in regional tenders?

How to participate in regional tenders?

To access non-repayable loans made available by individual Italian regions, it is first necessary to check on the website of your Region if there are active tenders, which must be compatible with your type of activity. Once this is done, it is necessary to understand what kind of facility is offered by this initiative. It is also necessary to check the timing of the aforementioned calls, ie their start date and, even more carefully, their expiry, and finally the requisites required.

Many tenders can then be destined to specific types of subjects, more or less specific. Normally these benefits are granted to companies and freelancers who have recently started their own business, usually not for more than three years. The non-repayable loans granted in this way usually consist of the granting of a non-repayable loan equal to a maximum of 50% of the expenses you are facing, for a minimum of 1,500 euros and a maximum of 20 thousand euros. You can apply for a maximum of two times in the first three years after you start working.