In the first half of 2012, credit applications from 18-30 year olds doubled compared to the first half of 2011, going from 9% to 18%. Let's see the main funding opportunities for young people.
Due to youth unemployment at record levels, the demand for credit in the 18-30 age group is increasing. This was revealed by a study by the SuperMoney Observatory, a portal for comparing online loans, according to which in the first half of 2012 loan requests by the under 30s increased from 9 to 18%. Despite this, an attitude of "diffidence" prevails among the banks towards this target which, amidst the economic crisis and precariousness, cannot count on a solid financial situation.
However, there is no shortage of opportunities for young people who need financial help. Let's see some of them.
Student loans
Young people who want to invest in their future and enroll in a degree or master's degree course can apply for honor loans, disbursed by banks that have agreements with university universities. Usually these student loans are granted on the basis of and offer subsidized rates for the entire duration of the loan, to be repaid once the studies have been completed. An alternative to the honor loan is the Government-guaranteed study fund, dedicated to students aged 18 to 40 enrolled in a course of study (university, master's, post-graduate specialization course, language course or doctorate), with certain criteria of merit. The amount that can be financed can be up to a maximum of 25.000 euros (payable in annual installments) to be repaid at a subsidized rate over a period of 3-15 years. To find out the list of participating banks, it is necessary to consult the official website dedicated to the project.
Loans for young workers
On the other hand, those who want to realize a secret dream and start a business (on their own or in a franchise) can apply for a loan of honor. The honor loans for the creation of enterprises, introduced with the law n. 608 of 1996 and more recently revised with the legislative decree n. 185 of 2000, are managed by Invitalia. In order to apply for a loan of this type, it is essential to be of age, as well as unemployed and resident in Italy for at least 6 months. Furthermore, the financed activity must be carried out for at least 5 years. Another interesting opportunity for young entrepreneurs is the simplified Srl (Simplified Limited Liability Company), aimed at young people and introduced with law no. 27 of 24 March 2012. In this case, the shareholders must be under the age of 35 and the deed of incorporation of the business (with capital between 1 and 9.999 euros) must be drawn up by a notary (without, however, being due to pay his fee).
Loans for all purposes
For other kinds of expenses (such as, for example, a study holiday abroad or the purchase of a laptop), you can take advantage of the personal loans that many banks dedicate to young people (18-30/35 years of age) . These loans do not require a permanent contract and provide for reduced (if not zero) expenses, with the possibility of postponing the installment and other concessions. The amount payable varies according to the institute (usually from 600 to 30.000 euros).
Finally, among the alternative forms to bank credit there is social lending, which offers cheaper rates because it does not involve the intermediation of credit institutions. In this case, the meeting between supply and demand takes place directly online, on special portals specialized in peer-to-peer loans (in Italian between private individuals).
