We continue to explore the world of subsidized loans for those interested in starting a new business. Today, we’ll focus on financing for female entrepreneurship , a truly unique but, at the same time, crucial sector for encouraging women who want to enter the workforce as leaders.
Today, it’s very important for women to work, both economically and socially, but often doing so as employees is difficult (let’s not forget the high unemployment rate that characterizes our economy) and incompatible with family needs.
Anyone wishing
to start
their own
business can consider funding for female entrepreneurship,
special European loans designed to encourage self-employment among women. First of all, it’s important to note that these loans are provided by the European Union, but, as with
non-repayable loans , they are managed by the regions, which evaluate the applications and then disburse them directly to eligible individuals.
How financing for female entrepreneurship works (Law 215/92)
Subsidized loans for women-owned businesses are regulated by Law 215/92. According to this directive, all small businesses managed entirely or predominantly by women are eligible for these incentives. For example, sole proprietorships must be owned by a woman, while for partnerships and cooperatives, Law 215/92 establishes that the minimum share of female shareholders must be 60%.
For joint-stock companies, however, at least two-thirds of the shares must be held by women. However, Law 215/92 goes further and establishes that, for joint-stock companies to benefit from financing for female entrepreneurship, the board of directors must also have at least two-thirds of women members.
It should be noted that a limit is often set, namely the impact of the subsidized loan on the entire investment. Typically, financing must not exceed 50% of the total investment required to start or take over the new business. Obviously, different circumstances may apply depending on the specific call for proposals.
Another useful piece of information regarding subsidized loans for female entrepreneurs concerns the activities that can be financed with these funds. Below are the most common (the various calls for proposals specify them in detail): purchase and rental of machinery and equipment for business operations , construction work, purchase of used goods (this item is usually only applied to the purchase of existing businesses), purchase of patents, software, and other technological equipment.
Financing for Women’s Entrepreneurs: How to Apply
Another question we’re often asked is: how do I apply for these loans? First, it should be noted that the various calls for applications issued by the regions contain the guidelines required from time to time . Generally speaking, however, it’s possible to provide some guidance that, more or less, can be considered valid in many cases.
The request must be made using a specific application form (valid as a substitute for a notarized deed) specifying all the details of the business and the purpose of the investment. Essentially, the application should include the main information about the business (both new and in the case of acquiring an existing one) and details of the investments to be made during the start-up phase and the initial years of operation.
Of course, other documents will also need to be attached to the application, but for this, we refer you to the various notices, which contain extremely detailed information and leave no room for misunderstanding.
For more information, we recommend these resources:
Are funding options for female entrepreneurship worthwhile?
We get asked this question quite often. It must be said, in fact, that it’s an excellent opportunity for those who want to start a business. The reason is simple: part of the financing is non-repayable , and the other part includes a super-favorable interest rate (0.5% and a 10-year repayment period). We know how difficult it is to start a business in Italy today, and for a woman, sadly, it’s even more so.
Female entrepreneurship represents a huge asset for our country, and these subsidized loans are truly an excellent solution for starting new businesses, expanding existing ones, or creating innovative startups. In short, the answer is yes, loans to support the development of female entrepreneurship are absolutely worthwhile.
Below is a short list of the main regions where non-repayable grants for female entrepreneurship are available :
- Lazio;
- Puglia;
- Veneto;
- Campania;
- Emilia-Romagna;
- Sardinia;
- Abruzzo;
- Sardinia;
Intesa Sanpaolo loans for women entrepreneurs
This specific loan is the result of Intesa Sanpaolo ‘s participation in the protocol for female entrepreneurship, which is valid for the entire 2015 period and provides for the provision of approximately €600 million in financing. This subsidized loan can be requested to finance a variety of business aspects: starting a new business, investing in a freelance business, purchasing consumables, purchasing or renovating facilities, or even simply for liquidity.
Another very attractive benefit is the possibility of suspending installments for a maximum of 12 months in the event of maternity leave or serious illness. This product is, of course, exclusively aimed at self-employed women and small and medium-sized businesses with at least 60% women ownership. The maximum amount that can be financed with this subsidized loan is €750,000 .
In conclusion, we can say that financing for female entrepreneurship represents a tremendous opportunity to make a tangible difference in the world of work during a period of great crisis like the one we are currently experiencing. In this guide, we believe we’ve provided you with all the basic information you need to understand how to apply for these subsidized loans, but if you need further clarification, you can always contact the relevant offices in your region.