UNIDEA Foundation

Implementation time: 2008        

Short Project Description:

The project aims to create job opportunities for young people through encouraging the entrepreneurship and self-employment. Unemployed young people at the age of 18 – 35 years old and newly registered companies owned by young people can apply under the project. The project offers three kinds of loans:

- a loan for means of circulation: from 1,000 to 5,000 BGN;

- a loan for investment designation: from 2,000 to 20,000 BGN;

- mixed loans: from 2,000 to 20,000 BGN;

The people who apply for loans under the project are obliged to pass a training course “Start Your Own Business”, work out a business plan with the assistance of the consultants in the centre; the plan is to be evaluated by an examining committee and in case of approval the funding is received.     

The Business Centre monitors the new company until the final payment of the loan.

The project was worked on in Shumen District from August to December, 2008. Six applicants passed the training. One of the applicant has been granted 7,000 BGN in order to start own business – hairdresser’s.