ON – Oltre Nuove Imprese a Tasso Zero
Up to 20% grants and 3 million euros in financing investments by women and young people
Oltre Nuove Imprese a Tasso Zero (ON) is a tool aims at supporting the establishment of micro and small enterprises in Italy with a majority or total participation by young people or women to support their development through better conditions for access to credit and allocation of a non-repayable grant.
Beneficiaries
Companies:
- Established within less than 60 months on the date of submission of the application;
- Micro or Small dimensions;
- Having more than the half of members and of participation shares being characterized by 18 to 35 years old people or women.
Individuals:
who intend to incorporate a company.
F.A.Q.
From when is it possible to submit the application?
Grant applications can be submitted starting from 19 May 2021.
Until when is it possible to request the grant?
The concessions are granted until the funds are available on the basis of an evaluation procedure when submitted the proposal: applications are evaluated in chronological order and there are no classification lists.
The first evaluation of the project is carried out on the basis of the indications given in the application and of an interview with the applicants within 45 days from the date of submission of the evaluation is concluded. In the event of a positive outcome, the second preliminary investigation phase will be performed.
Eligible expenses
The investment programmes promoted in the following fields are eligible:
- Production of goods in the industry, crafts and processing of agricultural products field (including projects relating to social innovation, intended as the production of goods that create new social relationships or meet new social needs, as well through innovative solutions);
- Provision of services to companies and / or people (including those relating to social innovation);
- Goods and services trade;
- Tourism (including tourist-cultural activities aimed at enhancing and enjoying the cultural, environmental and landscape heritage, as well as the activities aimed at improving accommodation and hospitality services).
The concessions take the form of subsidized financing, interest free, which can be integrated with a non-repayable grant and change according to the “age” of the beneficiary company:
≤ 36 months
Eligible investment program:
New business project or development of the existing company business:
- Eligible expenses not exceeding 1.5 million euros, net of VAT;
- Starting after the submission of the application;
- Duration not exceeding 24 months from the date of signing of the loan agreement.
Eligible expenses:
Purchase of tangible and intangible assets and services:
- Masonry and similar works, including renovation of the production unit (max 30% of the eligible investment);
- New factory machinery, plants and equipment;
- Computer programs ad ITC services, commensurate with the production and management needs of the company and the emerging applications of artificial intelligence, blockchain and internet of things;
- Purchase of patents or acquisition of related use licences;
- Specialist consultancy (max 5% of the eligible investment);
- Charges connected with the stipulation of the subsidized loan contract and, for proponents being natural person, charges connected with the establishment of the company.
Current assets (max 20% of the above mentioned expenses): raw materials, including goods subjects to further transformation processes, subsidiaries, consumables, goods, services, use of third party assets.
Eligible concessions:
Soft loan interest free with a maximum duration of 10 years and a non-repayable grants, for a maximum of 90% of the eligible expenditure.
The grant may be allocated within the limits of 20% of the eligible expenses as indicated in points 2.,3. and 4.
The loan is repaid according to an amortization plan in constant deferred half-year instalments expiring on May 31 and November 30 of each year, starting from the second aforementioned date following that of disbursement of the last instalment of the concessions granted.
For the loans for an amount not exceeding 250.000 euros no guarantee is required.
Loans for an amount exceeding 250.000 euros must be supported by a special lien where acquired as part a of subsidized investments and depending on the nature of the assets.
Accumulation of benefits:
The concessions can be cumulated with other State aid resources, even “de minimis”, within the limits set by European framework.
> 36 months
Eligible investment program:
New production units, business expansion, diversification of production or radical transformation of the production process:
- Eligible expenses not exceeding 3 million euros, net of VAT;
- Starting after the submission of the application;
- Duration not exceeding 24 months from the date of signing of the loan agreement.
Eligible expenses:
Purchase of tangible and intangible assets and services:
- Property where the business is located (ONLY FOR COMPANIES OPERATING IN TOURISM, max 40% of the eligible investment);
- Masonry and similar works, including renovation of the production unit (max 30% of the eligible investment);
- New factory machinery, plants and equipment;
- Computer programs, patents, licenses and trademarks commensurate with the production and management needs of the company.
Eligible concessions:
Soft loan interest free with a maximum duration of 10 years and a non-repayable grant, for a maximum total of 90% of the eligible expenditure.
The grant may be allocated within the limits of 15% of the eligible expenses as referred in points 3. and 4.
The loan is repaid according to an amortization plan in constant deferred half-year instalments expiring on May 31 and November 30 of each year, starting from the second aforementioned date following that of disbursement of the last instalment of the concessions granted.
For the loans for an amount not exceeding 250.000 euros no guarantee is required.
Loans for an amount exceeding 250.000 euros must be supported by a special lien where acquired in the context of subsidized investments and according to the nature of the assets, and, if the investment programme includes the purchase of the property, by a first degree mortgage.
Accumulation of benefits:
The concessions can be cumulated with other State aid resources, even “de minimis”, within the limits of the maximum amounts provided for by the GBER regulation.
When are funds allocates?
The disbursement of the concessions takes place, on request, in no more than 5 work progress reports (SAL) each one of an amount not less than 10% of the approved costs.
There are two alternative disbursement methods:
- Disbursement with receipted and unpaid invoices
- Each request for disbursement must have an amount equal to at least 10% of the approved cost.
- Each disbursement, with the exception of the first one, is subject to proof of actual payment (by showing the relatives receipts) of the invoices presented for the purpose of the previous disbursement.
- It is possible to request, upon presentation of a surety or surety policy, the disbursement of the first subsidy, not exceeding 40% of the total amount of the concessions granted, as an advance.
- Disbursement with unpaid invoices
- Alternatively, the disbursements can be paid on the basis of unpaid purchase invoices, through a specific escrow account.
F.A.Q.
What is the start date of the investment program?
For companies established ≤ 36 months, the start date of the investment program coincides with the date of the first title of expenditure declared eligible.
For companies established ≤ 36 months, the start date of the investment program coincides with the start date of the construction works related to the investment or with the date of the first legally binding commitment for order equipment or any other commitment that makes it irreversible the investment.
When are the expenses above mentioned eligible?
Expenses are eligible provided that:
- are depreciable;
- are used exclusively in the production unit covered by the subsidized investment program;
- are purchased at market conditions from third parties who have no relationship with the buyer;
- appear in the balance sheet assets of the beneficiary company for at least three years.
Regulatory framework
Decree of the Ministry of Economic Development of 4 December and subsequent amendments.
Ministry Memorandum of 08 April 2021, n. 117378 – Ministry of Economic Development GENERAL MANAGEMENT FOR BUSINESS INCENTIVES
READ MORE ON…
Official page of the Ministry of Economic Development
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