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4 Start-up Loan Program
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Start-up Loan Program
This program provides loans to a person who starts up a new business based on the examination of the accuracy of its business plan without any requirement for security or guarantor (for a corporation, without requirement for guarantee by its representative).
Who is eligible
An individual who falls under any of the following cases:
(1) A person who starts a business that creates jobs (including part-time jobs)
(2) A person who starts a business that adds any contrivance to the existing technologies or services and addresses diverse needs.
(3) A person who started a new business as described in (1) or (2) above and has not filed a tax return for the second terms.
*1: There may be other eligible cases depending upon work experience, etc.
*2: Excluded are moneylending businesses, certain adult-entertainment businesses and certain pleasure and entertainment businesses.
*3: A person who has yet to start a business or file a first-time tax return after starting the business is required to show that he has his own fund equal to or greater than one half of the total capital required for starting the business.
What support is granted
Loan institution: National Life Finance Corporation or Okinawa Development Finance Corporation
Loan ceiling: 7,500,000 yen
Loan terms: no security or guarantor (no guarantee by representative, either)
Loan period: up to 5 years for working capital; up to 7 years for equipment fund (term of deferment: not longer than 6 months).
Loan interest: base rate (1.65% and over) (as of March 2004) + 1.20%(*)
*1: A different rate may be applied depending upon loan use. Please ask at a branch of National Life Finance Corporation.
Loan process flow
(1) An applicant for a loan shall submit an application directly to the head office or a branch office of National Life Finance Corporation or Okinawa Development Finance Corporation. An applicant may consult with any of the institutions or agencies given below.
(2) The content of the business plan or requirements relating to the applicant's own fund will be examined by National Life Finance Corporation or Okinawa Development Finance Corporation.
(3) Examination results will be notified to the applicant by National Life Finance Corporation or Okinawa Development Finance Corporation.
(4) A loan agreement will be executed between the applicant and National Life Finance Corporation or Okinawa Development Finance Corporation, and then a loan will be provided.
Send inquiries to:
* A branch office of National Life Finance Corporation (phone at Tokyo Consultation Center: 03-3270-449).
* Head office or a branch office of Okinawa Development Finance Corporation (Second Loan Dept. Micro-Business Loan Division: phone 098-941-1795)
* Society of Commerce and Industry, Prefectural Federation of Societies of Commerce and Industry, Chamber of Commerce and Industry
* SME/Venture Total Support Center of Japan Small and Medium Enterprise Corporation (JASMEC) (phone 03-3433-8811)
* Prefectural SME Support Center (see list at the end of this booklet) or Regional Small and Medium Enterprise Support Center.
* Prefectural Life and Health Management Guidance Center

 

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