PUBLIC CALL for the allocation of loans under the PROGRAM OF FINANCIAL SUPPORT TO YOUTH BEGINNERS IN BUSINESS
In order to provide financial support to young people who are beginners in business
The Development Fund is announcing today a public call for the Program of financial support to young people who are beginners in business.
For the implementation of this program, funds in the amount of RSD have been provided 1,000,000,000.00.
Entrepreneurs, micro and small businesses registered in the Agency for Business Registers on January 1, 2019 have the right to apply for the Public Call. onwards, whose founder and legal representative is a person between the ages of 20 and 35, i.e. a person born in the period from 01.01.1989. until 31.12.2005. In a company that has several owners, the majority share must be owned by one or more natural persons aged 20 to 35 (minimum 51%). In a business that
has several legal representatives, at least one must be a natural person between the ages of 20 and 35
years.
The funds designated by this program are intended for:
• Purchase of equipment
• Purchase or adaptation of business premises
• Purchase of vehicles (for the purpose of performing business activities)
• Working capital - up to 30% of the amount loan.
The terms of lending stipulated by this program are:
1. loan amount: up to RSD 5,000,000.00;
2. repayment period: 78 months, including a grace period of 18 months;
3. interest rate: with the application of the currency clause, 1.5% per annum, except
in the case of a bank guarantee, then the interest rate is 1% per annum;
4. without fees and commissions for processing requests.
Means of security:
1. pledge or mortgage of the first order on the equipment/facility that is the subject
of financing or possibly existing equipment/facility of the same or greater value,
2. company promissory note,
3. personal promissory note.
- In the case of part of the credit funds, which can be used for the needs of
financing permanent working capital (TOS) - apart from promissory notes, no additional security instrument is necessary;
- Optional: bank guarantee (interest rate 1%) or guarantee of a legal/natural person or some other means of security offered by the client with an adequate risk assessment.
The loan application, with accompanying documentation, is submitted through the RS Development Fund Portal located on the Fund's website.
The public call is open until funds are used up.
Contact us and find out how RAREI can help your development, business or community.
