Reinforcing Med Microfinance Network System for Start-ups

Italy National Measures – SELFIEMPLOYMENT

ObjectiveThe New SELFIEmployment, active since February 22, 2021, finances the start-up of small business initiatives, promoted by NEET, inactive women and long-term unemployed, through zero-interest loans of up to 50,000 euros, throughout the Italian territory.
Target• NEET (Not in Education, Employment or Training) adults who at the time of submitting the application: – have enrolled in the Youth Guarantee program by the age of 29 – are not engaged in other work activities and in study or professional training courses;
• Inactive women adult women who at the time of submitting the application do not appear to be employed in other work activities;
• Long-term unemployed adults who at the time of submitting the application: – Do not appear to be employed in other work activities;
– Have submitted a declaration of availability to work (DID) at least 12 months ahead Inactive women and long;
– Term unemployed do not need to be registered with the Youth Guarantee.
Legal forms admitted Individual enterprises / partnerships / cooperatives or social cooperatives composed of a maximum of 9 members:
– Established no more than 12 months from the date of submission of the application, provided that they are inactive;
– Not yet established, provided that they are established within 90 days of any admission to the facilities.  
Professional associations and companies between professionals
– Established no more than 12 months from the date of submission of the application, provided that they are inactive;
Composition of the corporate structureFor partnerships, the legal representative must hold the absolute majority of the company shares (51%) and be NEET / inactive woman / long-term unemployed and meet the eligibility requirements set out in the Notice; for cooperative societies or social cooperatives, the members representing the absolute numerical majority and shareholdings of the cooperative, as well as the President of the cooperative, must be NEETs / inactive women / long-term unemployed and possess the eligibility requirements; for professional associations and for companies between professionals, all members must be NEETs / inactive women / long-term unemployed and meet the eligibility requirements.
Type of business activity allowedProduction of goods Provision of services to businesses and individuals Tourism Retail also in the form of franchising.
Business activities NOT allowed Agriculture, fishing, aquaculture, lotteries, betting and gambling sites. 
Facilitated funding The spending programs can be of an amount between 5,000 and 50,000 euros. In particular, there are 3 different types of funding:
• Microcredit for spending programs between € 5,000.00 and € 25,000.00;
• Extended microcredit for spending programs between € 25,000.00 and € 35,000.00; small loans, for spending programs between € 35,000.00 and € 50,000.00.
Eligible expensesThe following investment costs are eligible:               
a) Movable assets such as new tools, equipment and machinery;               
b) Hardware and software;
c) Masonry works, within the limit of ten percent (10%) of the amount of expenses referred to in the aforementioned letters a) and b).  
N.B. The purchase of cars / vehicles strictly functional to the financed activity is also allowed, even used ones.  
The following management costs are eligible:
a) The leasing of real estate and leasing installments;
b) Utilities;
c) IT, communication and promotion services;
d) Insurance premiums;
e) Raw materials, consumables, semi-finished and finished products;
f) Wages and salaries;
g) Non-recoverable VAT.
Facilities The benefits cover 100% of the costs and include: a subsidized loan without interest and not backed by any form of collateral and / or signature, with a duration of 7 years repayable in deferred monthly installments.
The concessions are provided on a flat rate scheme
Managing BodyInvitalia as part of the Youth Guarantee Program under the supervision of ANPAL.
Deadline for submissionRevolving fund (until funds run out)
Modality for submissionOne-stop shop.  There are no calls, deadlines or rankings and funding can be requested until the available resources are exhausted.
SubmissionApplications can be sent exclusively online, through the Invitalia web platform. To submit the application it is necessary to have a SPID identity, a digital signature and a certified mail address (PEC). The application consists of the business plan to be completed online and the documentation to be attached, according to the forms on the site.
Evaluation processApplications are evaluated in chronological order of arrival within 60 days of the submission date. The preliminary investigation also includes an optional evaluation interview to be held online.
Rewards and creditsAttendance at an accompanying path as referred to in measure 7.1 (Yes I Start Up on the national territory) gives an additional score in the evaluation of the application for funding.
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