The Fund for female entrepreneurship with an initial endowment of 40 million euros was approved with the Budget Law 2021, now only the signature of the Court of Auditors is missing.
The Fund for female entrepreneurship provides for an initial endowment of 40 million that will be subsequently integrated with the 400 million provided for the “Inclusion and Cohesion” mission of the PNRR.
What does the Fund for female entrepreneurship provide for?
The Fund provides for a mix of aid between non-repayable contributions and subsidized financing, targeting four different categories of beneficiaries:
- cooperatives and partnerships with at least 60% women members;
- limited liability companies with at least two-thirds women members of the Board of Directors;
- sole proprietorships whose owner is a woman;
- self-employed women.
How do contributions to women’s businesses work?
The eligible activities include most of the most important industrial sectors in Italy. Specifically, they include industrials, handicrafts, processing of agricultural products, business services, trade and tourism
It is possible to present investment projects with a development time frame of up to 24 months with a ceiling of eligible expenses set at 250 thousand euros for new businesses and up to 400 thousand euros for existing ones.
Incentives for new women’s businesses provide non-repayable financing that, within eligible expenses of 100 thousand euros, cover 80% up to a maximum of 50 thousand euros. For unemployed women the maximum percentage of coverage rises to 90%. If the program provides for expenses exceeding 100 thousand euros and up to 250 thousand euros, coverage drops to 50%.
For the enterprises that instead are found in the phase of consolidation constituted from at least a year and maximum of three, the facilitations are for the 50% to lost fund and for the remaining 50% like financing to zero rate with amortization of 8 years.
If instead the enterprise has more than 3 years, the expenses of circulating capital are facilitated only with the lost fund, those of the investment also with the facilitated financing.
Eligible costs incurred after the date of submission of the application or, in the case of individuals, after the date of incorporation of the company or the opening of the VAT. The subsidized loans will have a maximum duration of 8 years at zero interest rate with a pre-amortization of at least 24 months, in line with the timing of development of the project itself.
The announcement will be managed by Invitalia and in the coming weeks together with the MISE, which will formalize the day of the click-day indicating further specifications relating to the necessary documentation to be completed. The application will be transmitted using Invitalia’s innovative platform for access to public lenders.
Facilitations to female entrepreneurship are granted on the basis of a counter evaluation procedure, which means that the evaluation of applications will be made in chronological order of transmission and projects will be funded until funds are exhausted.
What does BizPlace do in the field of financing for women businesses?
In BizPlace we take care of accompanying the companies in the whole preliminary phase starting from the drafting of the initial documentation, business plan and cost plan, to the final reporting. The expert team of subsidized finance has structured an automated process of initial fast check that allows you to immediately verify the financial feasibility of the project and understand any tricks and improvements to be made to increase the chances of obtaining the funding itself.
If you need clarifications or want to receive more information do not hesitate to contact us!
The BizPlace Team
