The time limit of five working days of delay in paying the interest rate on loans provided within the National Youth Empowerment Program will be extended to 30 working days, IPN reports, quoting a Cabinet decision.
The program is intended for young founders of enterprises or associations, legal entities and private individuals aged between 18 and 30 who are involved in entrepreneurial activities. The loans of at most 300,000 lei are repayable in not more than five years. 60% of the financing represents the loan with interest, while 40% is a grant.
The move is aimed at avoiding the excessive indebtedness of the program participants. It will contribute to encouraging the initiation of businesses by young people, especially in rural areas, and to their capitalization. Under the conditions of the program, the beneficiaries can purchase modern equipment, including in leasing.
