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17:57 | 12.07.2022 Category: Economic
Chisinau, 12 July /MOLDPRES/ - The government continues to help young people to start new businesses, through financing instruments of the Organization for Small and Medium-sized Enterprises Sector Development (ODIMM). Within the programme, Start for Youth: A Sustainable Business at Home, young entrepreneurs this year can get grants worth up to 200,000 lei (about 10,000 euros), as well as financial guarantees worth up to 5 million lei from the Loans Guarantee Fund for Small and Medium-sized Enterprises (SMEs). Since early 2022, already 167 young entrepreneurs have asked for financing of their projects through the Start for Youth programme and another 27 benefited from financial guarantees worth 16 million lei.
There is more support on behalf of the state for startups.
For 2022, ODIMM makes available to young people a string of financial instruments of support for business, among which a programme of grants and products of financial guarantees.
The cabinet has recently extended by another three years the programme, Start for Youth: A Sustainable Business at Home, and the non-refundable financial support was increased from 180,000 lei to 200,000 lei. Thus, the financing on behalf of the state will account for 70 per cent of the investment project.
This year, the enterprises founded by young entrepreneurs asking for loans from any commercial bank can benefit from financial guarantees on behalf of the Loans Guarantee Fund (FGC) for SMEs with a maximal value of up to 5 million lei, which covers up to 80 per cent of the loans borrowed. For 2022, the overall capacity of FGC’s guaranteeing is of about one billion lei.