Youth loan: the best offers and how to apply for it

When you are young it is normal to find yourself in a moment of life in which you need more financial liquidity. The reasons can be different for example: starting a business, paying tuition fees or a master’s degree, expenses for embarking on one’s professional career, etc.

Obtaining a loan, however, is not easy, especially if it is the first time that it is requested. The problem is that often, for obvious reasons (one is young), one does not have a financial reputation precisely because they have not been made. This status hinders access to normal loans or loans which, in order to be approved, require checks through the CRIF databases where transactions in progress, those completed successfully and those that have had problems solved or not yet resolved are recorded. Here, to overcome this problem, the banks have organized themselves by creating financial products that offer a youth loan with facilitated rates and means of repayment. Very importantly, these loans stimulate youth entrepreneurship and therefore allow the creation of new start-ups, the lifeblood for the Italian system.

In addition to this form of credit, it is also possible to opt for another form of financing, which is accessible above all to all those aged between 18 and 30 years. Not only that, often also for those over 30 especially if they are female who want to enter the world of work by creating their own business, or who need money to study, in these cases in fact you can rely on the so-called: honor loan . Perfect, having said that now let’s see together what is the best solution for a youth youth loan!

Youth Loan: bank and financial proposals

Youth Loan: bank and financial proposals

As you may well know, the request for a personal loan from banks or financial institutions requires some specific documents and characteristics, such as a permanent contract and a minimum of bank history. To overcome this problem, however, some banks have thought of creating tailor-made loans for young people who have recently entered the job market. Let’s see which are the main ones!

Bankate: For you, loan young people

One of the best solutions for youth loans is definitely: Bankate youth loan for you. This banking product is aimed at all young people aged between 18 and 35 and allows you to receive up to 30 thousand USD with a loan duration of at most 10 years.

For you, the Bankate youth loan is disbursed in about 24 hours , to obtain the required amount, all you need is an identity document and of course a paycheck or document that certifies the income . In this case, however, unlike traditional loans, it is also possible to access financing: employees with fixed-term contracts, workers with atypical employment contracts (with at least 18 months of seniority) and freelancers or self-employed who have already done the first tax return.

Loan rates are facilitated, moreover you have the possibility to move the installment in case you have problems for the payment, you can take advantage of the insurance that blocks the loan for 6 or 12 months, in case you lose your job.

Bank Lonus: Superflash loan

The Bank Lonus, which is always part of the Bankate group and which operates exclusively in the south in Campania, Basilicata, Calabria and Puglia, offers the Superflash youth loan. The Superflash youth loan can be applied for up to 35 years and there is no need to have a permanent contract to access the loan, but you just need to prove that you have worked continuously for at least 18 months in the two years preceding the loan application. .

The loan in question allows to obtain from a minimum of 2000 USD up to a maximum of 30 thousand USD. The sum is not finalized, but can be used for family and personal needs, excluding expenses for starting a business. So this financing is ideal for those who have to pay university fees, pay a master’s degree, move house, take a transfer or get married. The Superflash loan also includes both insurance and the installment exchange option in case of problems with payments and the return of the sum obtained.

OneCashe youth loan Ad Honorem

Among the various options for young people we find the OneCashe Ad Honorem Loan , this is a form of honor loan granted to all university students who have completed their studies with 110 cum laude. These grants are currently available to graduates from the University of Bologna, Luiss in Rome and Bocconi in Milan. The sum financed by OneCashe in collaboration with university bodies is a maximum of 27,700 USD. The repayment can take place in a maximum of 180 months and you can also get a period in which you only pay interest for about two years, without having to pay the principal amount.

To read: loan of honor: what it is and how it works

Loan for young Bankate

Finally, find the Agos youth loan , this form of financing also favors youth entrepreneurship, in fact it is designed for all young people who want to start a commercial or professional activity, but also for young people who have to pay a master’s or a course of refinement.

The Agos youth loan provides flexibility for the entire duration of the loan with the options: skip or postpone the installment. In addition, you can change the amount to be paid monthly and the duration of the loan at any time.

Youth Loan: non-repayable loans

Youth Loan: non-repayable loans

The non-repayable loans or loan of honor are a sum paid by the Italian State, by the Regions or by the European Union to all young people who:

  • want to open a business (micro enterprise)
  • want to start a start-up
  • they have to pay university studies or a master’s degree
  • want to open a franchise business
  • want to start a micro business in Southern Italy

The non-repayable youth loan is currently paid out under the control of Invitalia. To request this form of financing, it is therefore necessary to send the request through the Invitalia website and wait for the submission of the competition notices. In fact, these loans, which usually provide for a 10% non-refundable loan, provide for the assignment of the loan only to those who have the right requisites.

To start a micro-enterprise, Start-up, franchising or micro-enterprise in Southern Italy, it is necessary to participate in the specific competition notice, send a complete business plan and a project that outlines the activity.

If the loan is granted, it will be necessary to commit to keep the business open for at least 3 years, and only 90% of the amount requested must be repaid with a minimum interest rate and starting from the year following the disbursement of the loan.

For students, on the other hand, the loan of honor is granted only in the face of noteworthy academic and academic results, moreover it must be shown that they have a low income that does not allow parents to bear the expense for specialization courses, masters or for the obtaining a degree in a prestigious university.

Youth loan with guarantor

Youth loan with guarantor

Finally, the last solution to access a youth loan is to apply for normal personal financing with the signature of a guarantor. The guarantor is that person with an indefinite salary, who takes responsibility for paying the loan for you, in case you can no longer take charge of it.

The loan with guarantor can be requested from all banks and financial institutions, in fact in this case the credit institutions will seek the economic guarantees for the disbursement of the loan, from the person who signs the loan together with you.

The guarantor can be either a familiar figure such as a parent or close relative, or an external figure such as a friend who has all the characteristics for obtaining a normal personal loan.

The amount that can be requested in these cases is usually a maximum of 30 thousand USD to be returned in 10 years. In this case, there are no youth benefits, but you will have to repay the loan with an interest rate and with the rules governing normal non-finalized loans.