In the General State Budget for 2011, establishing a credit line designed to advance the implementation of business projects promoted by young entrepreneurs in order to promote entrepreneurship and contribute to the generation of employment among a group particularly affected by high unemployment rates currently registered in Spain. To support these enterprises will use the figure of equity loan.
For the purposes of this line, National Innovation Company (ENISA), will receive loans from the Ministry of Industry, Tourism and Trade (MITT) planned for this funding, with the following characteristics:
- maximum repayment period of five years,
- type zero interest and without collateral.
Possible failed to be generated by the application of this line will reduce the amount of the loan that ENISA should return at the end of the concession period. Also in the aforementioned agreement shall specify the percentage of potential yield variables that are generated by the application of this line that will increase the loan amount to be refunded by ENISA.
Budget Act of the State shall each year, where appropriate, the amount of state contribution to the funding line that is created under this article.
The maximum budget for the year 2011 shall be 20000.00 thousand.
Related Entries:
- Accounting for equity loans.
0 comments:
Post a Comment