Graduation does not guarantee finding a job quickly. Non-working graduates often think about starting their own business, but in their case it is not so simple. Most start-ups are struggling with the problem of financing – banks are not willing to lend larger amounts to companies that do not have a sufficiently long, usually minimum one-year, seniority on the market. For graduates, an additional downside is the lack of previous professional experience, as well as the lack of creditworthiness.
Thinking about such people, Bank Gospodarstwa Krajowego signed an agreement with the Ministry of Labor and Social Policy in June 2013 for the implementation of the pilot program “First business – support in starting”. This Thursday, September 12, is the deadline for submitting bids for the financial intermediaries who, under agreements signed with YHJ, will be able to grant low-interest loans to graduates and final year students. The first loans are to be granted in autumn 2013, initially only in the Małopolskie, Mazowieckie and Świętokrzyskie suboir, with the decisive factor being not the place of residence or graduation, but the place of registration and conducting business activity. It is expected that in 2014 the program will cover other suboir.
First Business loan
Loans granted under the “First Business – Startup Support” program are indeed beneficial in terms of interest – it is to be 0.25 of the rediscount rate for NBP bills of exchange, which is currently at 2.75. This means that the interest rate on loans will be only 0.69% per annum. Moreover, graduates are not to incur any additional costs, such as commission for examining the application or subsequent servicing of the loan. At YHJ, they ensure that the only cost for the borrower will be interest.