The Development Fund has announced a public call for the allocation of loans to young entrepreneurs, with a total value of one billion dinars.
According to the announcement, loans of up to five million dinars are offered with an annual interest rate of 1.5%, including a currency clause, or at an interest rate of 1% with the submission of a bank guarantee. The loan repayment period is 78 months, including a grace period of 18 months. There are no processing fees or charges for the loan application.
The call specifies that the program for financial support is intended for entrepreneurs, micro and small businesses registered with the Business Registers Agency from January 1, 2019, onwards. The founder and legal representative of the business must be between the ages of 20 and 35, i.e., born between January 1, 1989, and December 31, 2005.
In businesses with multiple owners, the majority share (at least 51%) must belong to one or more individuals aged 20 to 35. Additionally, in businesses with multiple legal representatives, at least one must be an individual in the same age range.
The funds provided through this program are intended for the purchase of equipment, the acquisition or renovation of business premises, the purchase of vehicles for business purposes, or for working capital up to 30% of the loan amount.
Loan applications, along with the required documentation, must be submitted through the Development Fund’s portal on their official website.
It is emphasized that the public call will remain open until the funds are fully allocated.
