The lost fund is a loan that serves as a stimulus and an incentive for young people who want to start a new business or who want to expand an already established one.
Characteristics of non-repayable loans
The peculiarity of the lost fund is that the amount granted is not refunded. However, the calls, in some cases and under certain conditions, even if the requirements are met, may provide for a partial return of the financed capital.
In general, however, the funding that promotes economic development and self-employment in the country is a lost grant.
These loans can be financed by European, state and regional funds, by the provinces, by the municipalities but also by national funds managed by Invitalia.
Types of lost and requested funds
There are different types of funding, some are aimed at women to promote female entrepreneurship, others for young people aged 30 to 35 who live in the most disadvantaged areas of Italy in the employment sector.
Periodically the institutional bodies take steps to publish the tenders, accessible through the respective online sites, www.invitalia.it
The application must be submitted electronically, a good business plan must be attached to it. In general, for his proper editing, he is helped by a professional, a chartered accountant, a lawyer or a financial consultant.
Furthermore, non-repayable loans can be accumulated between them, so that it is possible for a young person to receive funds both for the opening of his start-up and subsequently for the growth and development of his business.
Limits, Constraints and Obligations of the beneficiary in the lost fund
Those who receive the loan are required to observe certain mandatory obligations. First of all the young person must guarantee, for a period of 5 years, the exercise of the activity for which he has obtained the loan, which starts from the date of its actual start.
In the same way, it must also maintain, at the same time, the operational headquarters of the company in the subsidized territories.
Furthermore, the same assets subject to the facilitation have a destination restriction that cannot be changed from the one for which they were purchased, always, for a minimum period of five years from the date of actual exercise of the activity and until the extinction of the mortgage.
New companies financed at zero rate
The MISE 140/2015 decree has provided for young people aged 35 and women who have created a company less than twelve months the possibility of accessing subsidized loans for zero-interest investments.
The installments are six-monthly and will be repaid in eight years.
The company must cover the investment with its own resources or by resorting to external financing equal to 25% of the total eligible expenses, but not to public financing.
The eligible expenses are those relating to the investment from the date on which the company was established, or the application was presented. The subject of eligible expenses are the purchase of tangible assets such as buildings, machinery, plant, software, business land and intangible assets such as trademarks, patents, licenses, training courses for its employees.
Success stories in the lost fund
An innovative and curious start-up idea comes from Milan, in 2015 Uman was born, a start-up that operates in the personal services sector, a 24-hour digital butler who collects and delivers clothes, shoes and accessories both at home than in the office.
To take advantage of the service, simply book through an online platform, by accessing the site and at most 48 will be satisfied.
This service is active in Rome, Turin, Milan, Bologna, Florence. Among the major customers we find Accenture, Dolce & Gabbana, Fastweb, Generali, Banca Intesa, Hogan, Zurich, Microsoft etc. This service was created to meet the needs of those who have no time to devote themselves to daily services.
In Rome instead CUC is born, a very funny app, which is downloaded on your smartphone, but also on your PC, allows in a few clicks to receive the ingredients for your favorite dish directly at home.
The ingredients will come home weighed and cleaned ready to prepare the dish for the number of people you want.
Advice on non-repayable funds
In general, startups, new companies with zero interest rates, the most promising are precisely those supported by Invitalia thanks to the loans and the acknowledgments granted.
Thanks to non-repayable loans, new jobs have been created, based mainly on self- employment and self- employment.
The data is encouraging, why don’t you ask for a consultation too, to let you guide, and advise, by professionals expert in choosing your start up?