Loan for startup? The opportunities of a guarantee fund
” I have just opened my company, it is still in the startup phase, but I have difficulty accessing Loan: what are the possibilities? “
This question is often asked of young entrepreneurs who are looking for a way to finance the initial expenses of their business. At a time when it is not easy to access Loan (see under #Loancrunch), when approaching a financial institution it is often advised to support the request with guarantees. Of the most important we have talked about in a chapter of our initiative #MeritoLoano . But today we are examining the most effective guarantee for access to Loan for startups : the State Guarantee Fund (Law 662/96).
We have already discussed the topic “state guarantee” on these pages, both in relation to the methods of access , and on the very positive trend of access to the guarantee that is occurring in the first months of this 2014 . Today we see how young companies can access the Guarantee Fund, which is in effect the most important subsidy currently on the Loan market.
While companies started for at least 3 years can be assessed on the basis of the last 2 financial statements / tax returns filed, startups can request access to the guarantee by completing a business plan according to the format provided by MISE (Ministry of Economic Development). The innovative startups , registered in the special section of the business register, can instead access the guarantee free of charge, with priority over other interventions.
As pointed out by the head of the MISE technical secretary Stefano Firpo , in an interview with EconomyUp, thanks to the Fund, in less than a year 128 applications were submitted by 111 innovative startups and guarantees for 44 million allowed the disbursement of 55 million Loan. The same Firpo specifies how to present the application:
The company can not forward the application directly to the Fund. It must contact a bank to request the loan and, at the same time, request that the guarantee be acquired directly from the loan. The bank itself will deal with the application. Alternatively, the company can turn to a Confidi that guarantees the operation in the first instance and requires counter-guarantee to the Fund … continue reading the interview on EconomyUp