Non-repayable loans represent an important possibility for obtaining funds to improve a business or to open a new one. Agriculture is an important sector for the growth and recovery of the country’s economy. Compared to the past, there are fewer people involved in the agricultural sector and it is also for this reason that various tenders are published, by different bodies, aimed at promoting investments in agriculture. The aim of non-repayable loans is above all to entice young generations , in particular those resident in poor economic areas, to believe and invest in agriculture.
If we want to be even more precise, we must say that those who grant the funding do so to help those who request it to purchase machinery, equipment, patents and everything else that is necessary to undertake the new activity in the best possible way. The non-repayable loan provides, in this case, that the beneficiary must commit to repaying only 50% of the capital obtained, moreover with a very favorable interest rate . He is not required to repay the other 50% which represents, in fact, the part of the loan totally for lost funds.
There are also differences in the part of the capital to be repaid. In fact, it amounts to 50% of the disbursed capital, but only if the party requesting it belongs to the so-called Objective 1 areas , or particularly disadvantaged areas as regards economic development. Those who do not live in these regions will have to repay 40% of the disbursed capital.
The requirements for obtaining non-repayable loans are numerous. From the professional point of view, it is necessary to have the qualification of agricultural entrepreneur. It is also necessary to have residence in one of the territories reported by the European Union . In the event that it is decided to acquire the agricultural activity of a relative, it can be done only if the family member is the owner of the company.