Let’s find out the best youth loans available for this 2019. All the characteristics of the various forms of financing such as the non -repayable youth loan, which is undoubtedly the most convenient solution ever. We will then look at the solutions that will allow you to obtain a soft loan even without guarantees.
Best loan without guarantees for young people without work
If you are a young person looking for funding, do not worry because there are excellent opportunities even if you are out of work. This aspect is certainly penalizing if you go to a bank to receive a personal loan. In this case, in fact, one of the requirements for receiving the desired financing is to have a paycheck. This guarantees the bank an insured monthly income, from which the repayment installment that we will fix will be deducted. The same applies to pensioners with retirement, while for the self-employed will be analyzed the last statement of income. So how do you do when you’re young without a job and need a certain amount of money? In this case there are alternative guarantees that we can present to the bank to obtain the desired financing.
The best personal loan without guarantees for young people without work is what can be requested through the presentation of a guarantor’s signature. In this case we can receive the desired financing thanks to the signature of our father or mother. All we have to do is present us at the bank for the request together with the person who intends to guarantee for us. The latter must be an employee, who will bring with him an income document that precisely attests his monthly income. In this way the bank will have no problems in providing the loan requested by us, in fact in the event that the beneficiary of the loan had problems in paying one or more repayment installments, these will be automatically debited to the guarantor’s current account. This is therefore the best solution for all young people looking for a non-finalized loan. As we said it is the most convenient financing for students without work, as the characteristics of the loan, and therefore the amount of each installment and interest rates, will be the same as personal loans to employees or retired employees.
Youth Entrepreneurship Loan for new activities: how it works
A type of financing particularly convenient for all young people without income guarantees is that of loans for young entrepreneurs. The first difference compared to personal loans is to be a loan aimed at starting a new business. It is therefore the ideal solution for all the guys who have an idea in mind but for which they do not have the necessary financial resources. A big advantage is that it is aimed at anyone, even those who have no income guarantee to present, and the signature of a guarantor is not required. How is it possible? All this is possible because these forms of financing are not provided by banks and financial institutions, but by the Italian State or through contributions from the European Union. This is therefore an incentive for young entrepreneurs, aimed at reducing the rate of youth unemployment, which has become unsustainable, and to counteract the so-called “brain drain”.
How do the loans for new businesses work ? These are subsidized loans of different types, whose requirements only concern the characteristics of the project and therefore the spending plan. This must comply with certain parameters both as regards the maximum amount that can be received but also with regard to the investments to be made. Loans for the cheapest young entrepreneurs are non-repayable loans. The characteristic of this type of financing is that for which the sum we receive will not have to be returned, or only a certain percentage will have to be returned. Obviously this is only possible through European funds, since for a bank it would only be a loss. Another type of financing, however very advantageous, is that of zero interest loans for new businesses. In this case there will be no interest, so we will have a considerable saving compared to classic personal loans. Finally we have loans with a subsidized rate. These will have interest rates significantly lower than those on the market, in addition to the common benefit of all not to provide for the presentation of income guarantees.
How to apply for a non-repayable youth loan from the state
We have said that non-repayable junior loans are the cheapest loans ever. How do we request them? First of all, these funds are distributed through the publication of calls. These will cover the various sectors of the economy and each will refer to a specific aspect. Youth loans in Italy are among the most widespread, given the huge demand and the youth unemployment rate that is definitely too high. To apply for a non-repayable loan, what you need to do is visit the website of your region. Here you will find, in the area reserved for benefits for citizens, all active calls and to which you can therefore participate. Each call will have an expiry date within which to submit the application and in it will be specified the characteristics of the same. In particular, in order to apply for a youth loan, it is necessary that one’s own business be made up of more than half of workers aged between 18 and 35.
On the announcement concerning the non-repayable loans of the Italian State, the eligible expenses will then be specified. Therefore, at the time of the request it will be necessary to present a detailed expense plan, in which only the expenses allowed by the call for tender must be included. Once the application has been submitted electronically, we will be contacted for an interview. Here we will have to present our project and we will have to somehow convince the “judge” that it is indeed a valid project. Like every year, also for this 2019 there will be many applications for non-repayable loans that will be sent in all the Regions of Italy. For this reason it is good to show that you have excellent skills in this area to demonstrate that you deserve the amount of money required.
Loans for young people of Pyrobanking and Manopoli Bank
We now find out about youth loans offered by some of the major banks, starting with Pyrobanking. The product offered by the company is called PerTe Prestito Giovani. This is a loan aimed at all Italian citizens aged between 18 and 35 years. Thanks to this solution it will be possible to receive a sum of money up to 30,000 euros, which can be reimbursed in convenient installments, through a repayment plan with a duration of up to 10 years. This is not the only advantage of PerTe Prestito Giovani, which also offers you the possibility of postponing payment of an installment if you have difficulty in meeting the deadline in a given month. To make the request it is necessary to present an income document. Employees who have a fixed-term contract, or those who have been atypical for at least 18 months and all self-employed workers may also have access to credit.
One of the most important banks of the Pyrobanking group is Manopoli Bank, which operates exclusively in Campania, Puglia, Basilicata and Calabria. The loan for young people that you can receive by contacting this company is the Superflash Loan. The recipients of this funding are all young people up to age 35 who have resided in Italy for at least 2 years. It is not required to have a permanent job, but it will be sufficient to show that you have worked for at least 18 months in the last 2 years, as well as the fact that you will have to work when the application is submitted. The sum to which we can have access goes from a minimum of 2,000 euros up to a maximum of 30,000 euros, which can be used for personal and family needs. Therefore, those relating to any investments relating to one’s own professional or entrepreneurial activity are not eligible expenses. As for the reimbursement, we can choose a duration from 2 to 10 years. Subsequently, this duration may be changed after the payment of the first 12 installments, using the ” Change Installment ” option. In the case of loans up to 7 years, the duration may be up to 10 years, while for loans with a duration of more than 7 years, this may be up to 15 years and therefore provide extremely light installments.
Unicredit Youth Loan: how it works
Another bank that provides interesting solutions for young people in its range of products is Unicredit. The first financing option that we present is Unicredit Ad Honorem, which is the loan of honor. This solution is aimed at all young university students who have achieved certain results, which are defined by the university itself. There are several universities that offer their students the possibility of having access to these loans, among which we find the University of Bologna, the Bocconi University of Milan and the Luiss University of Rome. The sum of money that can be requested through the Unicredit Ad Hononem loan reaches up to 27,700 euros. As for the reimbursement, this can take place in a number of months ranging from a minimum of 12 up to a maximum of 180 months. So you can choose the installment you prefer, as well as being able to have a period of “grace” up to 2 years. In this period the only expenditure that we will have to face will be the one related to the interests, so it can be the ideal option for young students.
This is not the only financing option offered by Unicredit to young people. Another very interesting product is called Credit Express Master, which is aimed at all those who are interested in addressing the costs of post-graduate education and therefore the Master. This personal loan will allow you to get an amount ranging from a minimum of 2,000 euros to 15,000 euros, which can be repaid from 18 months to 96 months. As far as interest rates are concerned, these will be fixed for the entire term of the loan. In this case it is also possible to postpone the beginning of the repayment of the capital for 3 years, in which only the cost related to the interest will have to be addressed. Finally, as regards interest rates, a Tan 10.40% and a maximum of 12.9% Taeg are envisaged.
Youth Guarantee Loans 2019: non-repayable loans for jobless young people
Another advantageous loan form for all young people living in Italy is that offered by the Youth Guarantee program. The service is open to anyone between the ages of 18 and 29 who are interested in starting their own self-employment or business activity. What is offered to those who request it is a real path that will accompany you to the realization of your project. First of all, the young person will be offered specialized training and advice, thanks to which it will be possible to create a detailed business plan that will take you to the start of your business. Subsequently, in order to allow anyone to realize their dream, Garanzia Giovani makes available to all members of the project financial products very convenient, especially considering that these are non-repayable loans.
The product that will allow you to receive the money you need to start your business is called ” Selfiemployment “. These are low-interest-rate loans that can be requested by all young people enrolled in the Youth Guarantee program, which in particular at the time of application must not study, must not have a job and do not attend professional training courses. These are the necessary requirements that are specified on the notice, but they are not the only ones necessary. It is indeed very important to have a strong aptitude for self-employment or entrepreneurship. This is an essential aspect that we will have to show we have when applying for funding. What is the amount to which we can have access through “Self-employment” funding? There are three different types of loans available: the first is that of microcredit, thanks to which you can receive a sum of money ranging from 5,000 euros to 25,000 euros; the second solution is that of extended micro – credit, which ranges from € 25,000 to € 35,000; finally it is possible to choose small loans, to receive an amount between € 35,000 and € 50,000.
Italian Youth Poste Loan for new start ups
Among the companies that offer excellent loan options for young people, we find the loans offered by the Italian Post Office. There are two types of loans aimed at holders of new start-ups. The first is that which takes the name of Loan Fostal Bank Professionals. In order to present the request, it is necessary to hold a Fostal Bank current account for at least 6 months and be professionals, self-employed, condominium administrators and VAT holders. If you meet these requirements, then you can receive a sum of money for your business, in particular on the company’s website it is specified that the money financed can be used for the restructuring of your own studio or for the purchase of useful goods for your own business. The sum of money that can be requested ranges from a minimum of 5,000 euros up to a maximum of 40,000 euros. As for the reimbursement, this will be done through monthly installments for a maximum duration of 96 months.
The second type of financing of the Italian Post Office that can be used by the owners of new start-ups is the one called Fostal Bank Affari Loan. This is a loan that can be received quickly, for the growth of its business. The amount of money that can be requested in this case will be slightly lower, since it ranges from 5,000 euros up to 30,000 euros. The recipients of the Fostal Bank Affari Loan are all partnerships, but also individual companies, which can either restructure their business premises or purchase goods that are useful for their business.
Loans for Young Cleopar, Ultranix and Astrofinance
To complete our analysis of the different forms of youth loan available on the market, we present the products offered by some of the major banks and that could be for you. The first is Cleopar, which with its personal loans offers young people the opportunity to carry out their projects through a loan of up to 30,000 euros. Choosing the type Jump, you will have the option to skip the installment if in a given month you had problems completing the payment by the due date. With the Change option you can change the amount of the installment in a certain month: obviously reducing the amount we will increase the repayment duration, while deciding to increase it we can complete the repayment in less time. These two useful services are part of the Cleopar Flex personal loan. If you also want the possibility of extinguishing your financing in advance without any cost, the option that is right for you is the Total Flex option.
Even Ultranix offers in its range of products a personal loan designed for all young Italians. This loan is aimed at those interested in financing their training expenses, such as the master’s degree, or face the first expenses in complete autonomy, such as the purchase of the first car. All this will be possible thanks to the loans for young Ultranix, which will allow you to receive up to 30,000 euros to be returned in all serenity by paying the installments you prefer. Finally, if the sum of money you are interested in is higher, then the personal loan that suits you is the one offered by Astrofinance. This will in fact allow you to receive a sum of money that reaches up to 60,000 euros, perfect to carry out any of your projects. For these types of financing an income document is required, however, by setting up an appointment at the branch you can request the payment by presenting the signature of a guarantor, who may be, for example, your parent or relative.