Financing small projects without interest, many young people need to start some small projects, which need a little essay head, but due to the social status of young people, there are a large number of young people who do not have enough to start such projects, so some government agencies and others have specialized Government works to finance such small projects, believing in the effective role of youth in society, in addition to providing job opportunities for young people instead of unemployment, and in this article we will deal with cultural facts of the most important parties working to finance small projects without interest.
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Small projects financing without interest
There are many ways in which some competent authorities operate to loan young people some small amounts of material to start small projects, without interest, in order to support the expansion of job opportunities and provide suitable jobs for young people who suffer from poor social status. Small projects are financed without interest through “A Good Loan”, let us know some details of project financing.
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Structured financing applies to different projects, and it involves elements of project financing, whether they are companies or limited projects, such as corporate finance, and it involves full resort to the balance sheet sponsoring the project. Like project finance, it includes special features to boost the borrower’s credit.
First, what is a good loan
The good loan is one of the means that have been dealt recently in banks, and in the recent period it has been widely circulated, especially in light of the difficult economic conditions surrounding young people, and the material obstacles that stand before them, in implementing the projects they dream of.
A good loan is also what is deposited, through bank deposit, or hand in hand, so that it is with the extinct person, and the amount is recovered to the borrowing party, without any interest or profits, and this is what makes it the right choice for young people, especially if borrowing is For legitimate work, or embarking on marriage.
Conditions for obtaining a good loan
There are a set of different conditions that must be met in order to obtain a good loan, and they are:
1- The priority is to take a good loan, for those who need it most, and the response is in most cases, two days after registration.
2- It is not permissible to associate more than two applications at the same time, and it is also not permissible to register more than one application for one person.
3- It is not permissible to register with more than one phone number to obtain a good loan, as this is considered fraud,
4- You can get a Hassan loan from the Arab Foundation for Ideas Development and Support.
5- You can get a good loan also from the Arab Association for Social Support.
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The most important associations and banks that grant financing to small projects
There is a group of competent authorities that work to provide good loans, or work to finance small projects without interest, the most famous of which are:
1- Ministry of Endowments
The Ministry of Endowments gives good loans to establish projects, but granting these loans has several conditions, including: –
1- That the age of the applicant of the good loan does not exceed 57 years.
2- That the loan applicant does not owe any other bank with loans.
3- That the applicant for a good loan must have a job that does not end before repaying the loan.
4- For the borrower to waive his salary for a period of 3 months to the association, in case he obtains the loan.
5- Loans are granted to workers in the endowment administration and the public sector only.
6- That 15 years have passed since the borrower served his job.
2- Banque Misr
Banque Misr provides good loans in cooperation with Faisal Islamic Bank and the Endowments Association, and this loan is without interest. Banque Misr contributes to supporting projects that are based on development, expansion, replacement and renewal by financing projects that provide permanent job opportunities, and that increase production and income.
Financing all types of establishments, whether individuals, companies, or funds in all activities, including industrial and commercial industries, services and free professions, in addition to environmentally friendly activities. Funding is provided through short and medium term loans to finance working capital, in addition to new and used local machinery and equipment. .
1- A copy of the establishment contract. 2- A recent document from the commercial register and a copy of the tax card. 3- A copy of the license to practice the activity. 4- Taxes and insurance status. 5- A copy of the project or lease document. 6- Budgets from the start of commercial activity, with a maximum of three budgets for existing companies.
3- The Arab Association for Social Support for Youth
This association provides loans to young people without guarantees. All the association needs is a feasibility study for the project, and a production plan for this project.
4- The Foundation to support and develop projects and ideas
This association provides good loans to young people, and the association prepares a feasibility study for the project, and the best place to reside, and the only condition is that the project serves the Egyptian economy, and grants loans to buy a car up to 35,000 pounds, and marriage loans worth 20,000 pounds, and a minimum The loan collection is 10 years, and you can go to the association and write the application.
5- Good loans from Al-Fateh Mosque
The Al-Fateh Mosque, located in the Ramses area, offers good loans without interest, and its condition is that the borrower is free from hopeless diseases.
6- Association message
This association is based on donations, from businessmen and others, and provides good loans without interest, as the loan starts from 500 pounds and reaches 5,000 pounds, to finance small and micro projects.
It is known that project financing differs from other forms of financing primarily because it is based on the future cash flow of an existing institution and unlike other loans, which are based on a balance sheet (the borrower’s income and assets), special purpose companies must start making money before they can She begins to pay off her loans.
First, this could take years.
Second, there is no guarantee that the project will come with cash unless all possibilities are considered in the feasibility and planning stage of the project, and all risks are mitigated.
The financier needs to ensure that the project can make the cash that developers and operators say it can. This is what makes the project bankable. No financier will grant a loan at 100%, because financial institutions simply will not bear the project risks on their own, they only give you an amount of money that you can start with, and both development finance institutions and commercial banks require the lender to have sufficient experience. It is a form of equity commitment and repayment.
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This was a brief summary of financing small projects without interest , so that you can start your project with certainty of how to start and choose from among the many different bodies that work to finance your project, and the project to be started and financed must be determined. Working on a feasibility study for the project, knowing the ideal way to pay off such a loan, knowing the different profit methods from the project and how it works to increase your production in the project and market it in a good way.