Non-repayable loans: rest in the south

Non-repayable loans

Non-repayable loans

Res in the south is one of the non-repayable loans, introduced by the DL 91/2017, designed and studied specifically for young people who find it difficult to integrate into the world of work, due to the severe economic situation that has hit our country in recent years years and that penalizes some geographical areas, especially in the South.

This type of facilitated financing favors self-employment, contributes to the self-determination of the individual, defining tasks and responsibilities and enhancing the resources already present in the territory by giving them new life.

Requirements for access to non-repayable loans

Requirements for access to non-repayable loans

With the circular letter n. 33/2017 issued by the Department for Cohesion Policies at the Presidency of the Council of Ministers, the incentive requirements for young people were established.

To take advantage of these, non-repayable loans, you must have reached the age of majority, ie 18 years and not be over 35 years of age for those who decide to start a new business or who had already started a business.

It is necessary to be resident in one of the following regions: Abruzzo, Basilicata, Calabria, Campania, Molise, Puglia, Sardinia and Sicily.

  • Not having taken advantage of other self-employment contributions in the last 3 years;
  • not having been hired on a permanent contract for the duration of the non-repayable loans ;
  • not already in possession of another active business activity;
  • not to hold a permanent employment relationship for the entire duration of the non-repayable loans;
  • not to hold professional and commercial activities.

How it works Rest in the South

How it works Rest in the South

All those who are interested in receiving non-repayable loans, after having verified that they are in possession of the requisites, can from 15 January 2018, fill out the application electronically on the Invitalia website accompanied by their business project.

It is essential to send the digitally signed project followed by a certified e-mail address (PEC). Afterwards the submitted project will be examined.

Should Invitalia express itself positively, young people will have access to two facilities. It is important to remember that there is no expiry date for the submission of applications, because their arrival will be considered in chronological order.

The rest facilities in the south

The rest facilities in the south

Non- refundable contribution covering 35% of eligible expenses granted by Invitalia.
Zero-interest bank loan at 65% of eligible expenses, to be repaid in 8 years. Granted by a bank participating in the agreement between Invitalia and ABI, 80% guaranteed by the Guarantee Fund for SMEs.
It is possible to receive up to a maximum of 50,000 euros.

If the project is presented by more than one person, it is possible to request 50,000 euros for each, up to a maximum of 200,000 euros.

Rest in the South, such as eligible expenses

Rest in the South, such as eligible expenses

The eligible expenses include the expenses for the renovation of buildings that must not exceed 30% of the total expenditure; expenses for the purchase of equipment, machinery and equipment and computer software; expenses for the purchase of raw materials, consumables, rents and insurance cover must not exceed 20% of the total cost.

Otherwise, all other expenses related to the technical consultancy of experts, architects, engineers regarding the design and consultancy of the work regarding the costs of the employees are excluded.

Practical example of non-repayable loans

Practical example of non-repayable loans

I want to talk briefly about two cases that are particularly close to my heart because they see two successful entrepreneurs sharing the Puglia region and the same desire for revenge as protagonists.

The first startup sees at the helm Maria Rita Costanza, already known for the TV format Shark Tank, which with the collaboration of her husband founded Macnil, an IT company specializing in smart city systems, digital mobile marketing, telemedicine and geolocation, entry to be part of the Zucchetti Group.

The other case has as its protagonist the very young Apulian Gianluigi Parrotto, who created Renewable, an innovative startup that designs and sells wind turbines online to mount on the roofs of houses.

It has attracted the attention of the American group Air, which took it over for 5 and a half million euros.

In conclusion, I want to clarify, that being a public tender, Invitalia has two months to evaluate the merit and the possession of the requisites, therefore I advise to carefully prepare the project and to get help, in case of doubt, from the experts of institutions accredited with Invitalia. You can find the list available on the Invitalia website.

We also remind you that 1,250 million euros have been made available by the Development and Cohesion Fund, so hurry up, don’t miss this opportunity, it could be the right one!