You may have wondered the meaning and function of the credits to Lost fund, if this is indeed your case, you are in the right place, throughout this article we are going to try to solve these two questions and many more that you may have about this type of loan or credit. So, without further ado, let's start with all the information we have for you.
Non-refundable loans or credits are those that the government gives to promote your possible entrepreneurial ideas, to turn your dreams into reality.
What are non-refundable credits or loans?
If you are here it is because surely at some point you have had some business ideas and you have not known how to carry them out due to the fact that you do not have the full capital to be able to materialize them, with that purpose the credits or non-refundable loans were created and in this way we can help you fulfill your dreams of owning your own company.
So if you are a beginner in everything related to entrepreneurship issues, we will try to guide you so that you can make use of this benefit and start your ideas.
Let's start by defining a non-refundable loan, this is a loan, financing or economic support, which is given to entrepreneurs by the government directly, the point is that in order to enjoy this benefit that not only consists of delivering an amount of money, but commissions are not requested and they do not generate any type of interest, a contest must be won.
What is the objective of the government to promote this type of small business or company?
It is quite simple, they establish that by providing this type of aid, what they are doing is guaranteeing that later these entrepreneurial ideas can become companies that pay taxes, generating benefits for the state and, in turn, these can generate jobs and greater products or services. to the population. So it would be a win-win where you see it.
Now you may be wondering what are the institutions or government entities that give this type of help? There are 6 main programs to provide financing, these are: the support program of the Ministry of Agriculture, Livestock, Rural Development, Fisheries and Food, also known as SAGARPA, support program of the National Institute of Social Economy, full name that it is given the acronym INAES, group of credits given by the Secretariat of Social Development or SEDESOL.
One of the most heard financing plans is that of the National Commission for the Development of Indigenous Peoples, also known as CDI and finally we have the loans given by the National Institute of the Entrepreneur, INADEM and by the National Commission of Areas Natural Protected, here we only name the 6 main ones, but along with these there are some additional ones.
For this reason, we invite you to enter the official pages of each one of them in this way you will be able to know in greater depth not only all their requirements, but also know in detail the amounts that can be lent. In this way, we leave you this pending task.
How can you win a loan or bad credit?
As we said before, in order to have access to one of these financing plans, a contest must be won, this consists of going through three filters mainly and in this way, the government entity chooses which are the best enterprises to be able to support and give it this type of aids, then we will explain these in a little more depth:
Normative
In the first place, there are the regulatory filters, at this point an exhaustive evaluation is made of all the paperwork and documentation of your company or for that moment, entrepreneurship.
Everything must be in what is known as a legal order, in this way, it will be much easier for the institution that is carrying out the evaluation, to carry out the proper verification and validation of all the information provided, an important point that you must take into account account is that you must be up to date with the entire issue of tax obligations, payment of tariffs and taxes, so you will be able to pass the filter satisfactorily.
Coach
Then everything that has to do with the technical part happens, at this moment a complete analysis of the technical feasibility of being able to carry it out will be done, as well as making the due evaluation of a possible budget and in this way, being able to have an estimate of whatever it takes to put the project into action. If this filter is passed, it is passed to the third and last one.
We invite you to read about the participatory loans, for this you must enter the previous link, so you can know all the information from What is it? Until what are all the advantages you can have when opting for this type of credit? So feel free to jump in and read a bit more about it.
In order to obtain one of these credits you must pass three filters which are: Regulatory, Technical and Selection.
Selection
This corresponds to the last filter, at this point only those who pass the entire regulatory and technical process arrive, by this time all those selected are notified that the loan was granted, it is indicated how much it is, this will be based on of the results that have been obtained based on the filters explained above.
Additional aspects about the non-refundable loan
An aspect that is important that you take into account, since it is a lost fund credit, you are not asked to return the money, nor are you charged interest, nor any commission for it. However, it is important that you are clear that, even if you are not asked to reimburse the funds, you will be asked to periodically demonstrate that the money is being spent on investments in the project that was evaluated.
Of all the organizations that we could mention previously, the one that has a higher level of calls of this type is the National Institute of the Entrepreneur or also known as INADEM, this is linked to what is known as the Ministry of Economy, which has among Its mission is to support small and medium-sized companies, so that they later become the big industries of tomorrow.
The most interesting thing is that in order to participate in any of its contests you only have to be a citizen, of legal age (that is, be at least 18 years old), have your current and up-to-date tax registration and have a small business or some idea. of entrepreneurship that you want to develop.
At the time you make the request to be able to participate in any of these calls, you should avoid participating in that of any other institution so that the information does not collide and you have a better chance of being selected, this is a recommendation that we give you so that all the process may be satisfactory.
Finally, we remind you that this loan plan is not given by any banking entity, it is given directly by the government after being successful in the selection process that we have been describing in this article and having passed the three main filters, therefore You must be aware that the amounts that are going to be given are going to be based on the budget that is approved, for the viability of the project presented.
We hope that with this article we have helped you to know everything about how to apply correctly to the contest for the possible selection to be granted the lost fund loan, however, we know that there may always be additional doubts and some aspects that are not they are 100% clear, for that we leave you the following video. We invite you to visualize it, take a few minutes for this.