How does the loan of honor work? What are the characteristics of this financing and to whom is it addressed? It is a personal loan characterized by particularly competitive repayment conditions and access to credit. Let’s see all the details.
The loan of honor is a credit line that refers to the legislative decree 185/2000. Thanks to this measure, grants are offered and loans at advantageous rates, intended for those who intend to start an activity intended as a company or self-employment.
The loan of honor can also be addressed to praiseworthy students. In this case the loan is granted by the affiliated credit institutions and allows to cover the costs to be faced to finish the studies.
The characteristics of the loan change according to the credit institution under consideration. In any case, reimbursement generally occurs after the end of the course of study, and the sums granted usually correspond to a few thousand USD per year.
How the loan of honor works: contributions and financing. Depending on the beneficiary, the characteristics of the loan change. In the case of micro – enterprises, investments may reach a limit amount of 129,114 USD.
A non-repayable grant corresponding to approximately 50% is provided for the investments, while the other half can be managed thanks to a loan at a subsidized rate. The grants and the subsidized loan are also available for franchising.
In the event of self-employed workers, the maximum total investment may be $ 25,823. The loan on favorable terms relating to investments is subject to a limit of 15,494 USD. With regard to the non-refundable contribution, during the first year, a threshold of 5,164.57 USD is set.
How the loan of honor works: what are the application procedures? The loan of honor is an opportunity curated by Astro Finance. Requests must be sent via the web and must clarify the use of the credit object of the application.
Honor loans can also be provided by other institutions, such as Regions and Municipalities. The relative calls will clarify the methods of participation.
The situation is different for students. These student loans are the result of agreements between the banks and universities. It is therefore sufficient to request information from the offices of the educational institution to find out the funding possibilities.