MICROLOANS FOR BUSINESS FOUNDERS AND YOUNG ENTREPRENEURS (ESF)
With microloans, business founders wishing to become self-employed receive start up financing for their investments and production equipment and facilities. For these purposes, business founders before they start their business operations as well as young enterprises up to five years after they started their business may apply for a low interest loan amounting to a maximum of 20,000 euros directly at Saxony’s Development Bank (SAB). A mandatory prerequisite for any such project is that the borrower of the loan has to make a co payment of at least 20 % of the total costs.
The repayment has a maximum period of 6 years; the redemption phase shall commence by no later than the second year after the loan has been disbursed.
Those loan borrowers who implement their measure in the Chemnitz and Dresden regions will receive their funding from the European Social Fund and from the Federal State of Saxony.
Detailed information (German)