How to obtain EU funds to open a business – every year more and more people are interested in opening their own business. However, as it is commonly known, in order to be able to achieve such a goal, one must have sufficient financial resources. Well, the bigger the company we plan to open, the more funds we will need for this purpose.
However, it should be remembered that nowadays there are various forms of support for young entrepreneurs who lack funds to make their professional dreams come true, and are full of passion and willingness to open their own business. That is why we decided to provide you with some information on how to obtain EU funds to open your own business. We invite!
An EU start-up loan is a form of financial assistance for people who are just about to start their own business. A start-up loan is characterized by the fact that it gives young entrepreneurs the opportunity to pursue their professional goals and fulfill their dreams related to running their own business. Every year, this form of assistance is used by an increasing number of satisfied people who can contribute to the employment of other unemployed people and eliminate unemployment on the Polish labor market. A loan for start-up companies is a project prepared by the Ministry of Development Funds and Regional Policy.
Who is the Starter Loan addressed to?
The start-up loan is addressed primarily to people who: are over 30, have no criminal record, are unemployed, as well as to people who do not simultaneously use other forms of financing. Loans for entrepreneurs under this project have also been extended to other issues, namely that this form of financing can also be used by returnees and immigrants. As far as re-emigrants are concerned, it should be noted here that repatriates are also included in this group.
In turn, when it comes to immigrants, it must be said that this group also includes people of Polish origin. So, as you can easily see, the target group to which the financial support for starting your own business is addressed is very extensive, in contrast to the projects that were implemented in previous years. The EU micro loan is also characterized by the fact that it is a project implemented on very favorable terms.
What should be included in the conditions of the Starter Loan?
Well, the main financial conditions related to the Star Loan include primarily such issues as:
- repayment period up to 84 months
- an interest rate of only 0.25 percent
- the opportunity to take advantage of a grace period of up to 12 months in the repayment of capital
- no down payment required
- no handling fee required
Any person interested in participating in this project can also take advantage of free advice, which includes aspects such as: creating an appropriate business plan, creating a reliable loan application, as well as professional advice on starting a business. All this makes the project of helping young entrepreneurs, which is currently being implemented, very popular.
How can I get a subsidy from the European Union to set up my own business?
When it comes to the issue of how to get a subsidy from the European Union for setting up your own business, it should be noted that the most important aspect is to develop an appropriate business plan in the first place. This is a priority issue. Of course, it should also be remembered that the preparations should start much earlier than on the day when the call for such subsidies starts. Start-up finance from EU funds is targeted in particular at people under 30 years of age.
However, it should be noted that each person who submits such an application is thoroughly checked in financial terms before receiving EU funds for starting a business, so it is primarily about checking the current situation and individual predispositions to receive such support. As it is well known, the queue of people interested in such EU support is very long, because there is no shortage of volunteers.
What are guarantee funds?
Guarantee funds are nothing more than guarantees for the financial liabilities of entrepreneurs who have creditworthiness, although at the same time they do not have any collateral for maturity by various financing institutions. Guarantee funds are also characterized by the fact that they can be used by people who do not belong to any privileged groups, and they need money for business activity.