Individual Project/ household business is the one which is carried out by one person, with individual – household business activities and meet following conditions:
- Owner’s age: from 18 to 35 years old.
- Live in Ho Chi Minh City ( have Permanent Resident Book/KT3);
- Have the capacity and the capacity for civil acts in full;
1. Eligible borrower and requirements:
- Eligible borrower:
– Young people who want to do business, have business ideas but lack of capital.
– Young people who are in poor families, have ability to make money and good plans of using the loan;
– Young people who want to have their own business in new rural areas;
– Have financial capability to ensure the ability to repay the loan in committed term;
– Have invesment project, working business project;
– The project must be feasible and effective ;
– Business sectors are not prohibited by Law ;
– Use the loans for reasonable and legal purpose;
– Implement business registration and taxe obligations as prescribed by law;
– Not for those who have received loans from the funds which is introduced or mandated by Vietnam Youth Federaration .
2. Procedure, loan document:
To get a loan from The Business Startup Support Fund, you must prepare the following documents:
– Loan application form (notarized by local authorities; Vietnam Youth Federation (Ward/District ( Attachment)
–Notarized copy of ID + Permanent Resident Book of the borrower.
–Notarized copy of ID + Permanent Resident Book of the guarantor.
–Notarized copy of the Business Registration Certificate (for service projects.
–Notarized copy of Land use Certificate (for farming projects).
–Notarized copy of Farm Lease Agreement (if any).
–Guarantor’s income proof.
–3 – 5 latest photos of the project (in less than 1 month).
–Other documents verifying the existence of the plan.
3. Loan process:
– The borrower prepare the required documents and submit them to the Ward Committee of theYouth Federation (WCYF).
– WCYF verifies the documents and send them to the District Committee of theYouth Federation (DCYF).
– DCYF examines the project’s feasibility and send them to BSSC
– BSSC and WCYF directly visit the place where the project is carried out to appraise the project’s feasibility. After that, BSSC will consider to approve the loan.