GOOD NEWS! Young entrepreneurs can take low-interest rate
Young entrepreneurs can access loans with low interest rates of two percentage points, compared to the market average. The Ministry of Finance announces that Moldovans with businesses up to 35 years of age can apply to eight banks, but also to a micro finance institution to borrow. A greater advantage than interest reduction is the grace period. The beneficiary will only begin returning the installments after one year of accessing the credit.
"We can offer sub-loans for a period of 3-5 years and 7 years, the grace period, 12 months, the rate will be lower than the market, at the moment, plus 6%," said the head of the "Debt Management" Ministry of Finance, Elena Matveeva.
Preferential credits can benefit young people with business in any field, with a condition - to hold a share of at least 75 percent of the bonus. The bearer will be able to access up to one and a half million lei.
"In the medium, we expect about 200-250 requests. Depending on the requests, we will examine the possibility and expansion and increase of the respective fund, because at the moment we have the possibility to finance," said the head of the Public Debt Directorate "Ministry of Finance, Elena Matveeva.
The money will be earmarked from the young entrepreneurs' development fund, with a budget of 300 million lei only for 2019. The funds were provided to the Government in the form of loans from various international institutions including the World Bank and the European Investment Bank.
Through this project, the authorities aim to encourage private affairs among young people, and employers appreciate the program positively.
"We will see these effects in time, but I think the first effect that should be halted is to stop the departure of our talented young people and the ability to work elsewhere", said CNP Executive Director Vladislav Caminschi.
Actually, loans in lei granted to companies by banks are offered at an interest rate of 8 to 9 percent.