How to obtain financing for farms

How to obtain financing for farms

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How to get funding for farms: what are the new facilities envisaged for the agricultural sector. Let's find out in detail the agriculture bonus and the various reliefs provided for young farmers.

In Italy, in recent years, there has been a real rediscovery of the primary sector. There are many young people who decide to enter the world of agriculture, opening new companies and promoting a form of sustainable cultivation. Gods have been conceived precisely to support the new activities, but also the historic companies that work in the agricultural world financing for farms, created ad hoc, to facilitate those who work in this sector. Let's see in detail what are the new reliefs and funding provided for agriculture.

Farmers Bonus: what is it?

The Farmers Bonus, established by the 2017 Budget Law, will allow all young people who enter the agricultural sector to obtain a total relief from INPS agricultural contributions.

In this way, all young people who are willing to open an agricultural business, and are in the age group between 18 and 40, will be able to obtain exemption from paying INPS contributions.

The exemption provided is equal to 100% of the amount of the INPS contributions provided for the first three years of activity. The percentage will be reduced in the fourth year, when it will be 66%, while in the fifth year the deduction will be equal to only 50% of the amount.

The contribution cut provided for these five years after the opening of your business is a very attractive facilitation and incentive for young people wishing to open a farm.

Funding for farms: ISMEA call

THE funding provided for agriculture, they are one of the best ways to enter the agricultural sector without excessive expenditure of money. In the agricultural field, there are various concessions ranging from those provided by the European Union, up to state and regional ones.

The promotion of this sector is very important for Italy at this time, because by increasing the number of farms it is possible to create new jobs. In fact, it is estimated that the agricultural sector is among those that allow the hiring of a greater number of people.

At the moment between ffunding for agriculture the most requested and lavish is the one dedicated to young people and offered by ISMEA. Indeed, the Institute of Services for the Agricultural Food market, born in 1999, it decided to offer a loan to all young people aged between 18 and 39. All those who want to enter the world of agriculture can therefore choose to participate in the new call, which will be launched in 2018.

At the moment the call on the site is that of 2017, but this will certainly be renewed for the coming year as well. Just consult the ISMEA website to find out the date of submission of applications for participation in the competition.

The figure provided by ISMEA to finance new projects in the field of agriculture is very high, this is around 65,000 million euros. Of which, 5 million are intended exclusively for residents of the areas and municipalities affected by the earthquake.

This loan is non-repayable, so all applicants who obtain the loan will be able to repay it easily and with an amortization plan that provides for the application of subsidized interest.

Funding for farms: the Rest in the South program

In order to encourage the economic growth of the entire southern area, on 21 June 2017 with the Decree Law no.91 of the Council of Ministers, a loan was created for young people called: I'm staying in the South.

I'm staying in the South provides a non-repayable loan, which will serve to encourage new entrepreneurs residing in the southern area. The new decree was introduced for the regions of Southern Italy, this funding is therefore available for:

  • Sicily and Sardinia
  • Abruzzo and Molise
  • Puglia and Basilicata
  • Calabria and Campania

Funding "Rest in the South" who can access the application

The Financing Rest in the South it is intended for all young people between the ages of 18 and 35. To access this financing for agricultural enterprises, the applicant must be resident in one of the southern regions mentioned above. All those who have the right requirements and who want to open a business in the South can request financial support equal to 40,000,000 euros for each participating partner. Let's see in detail how to access this economic benefit for new businesses in the South.

Access requirements:

  • age between 18 and 35 years
  • Not having enjoyed other incentives for entrepreneurship in the previous three years
  • Residence in one of the southern regions

Amount payable:

  • The maximum amount for each project will be 200 thousand euros
  • For corporate projects, however, it will be possible to have a maximum of 40,000 thousand euros per shareholder. The maximum number of admitted members is 5.

Young entrepreneurs can apply for this facility provided by Invitalia, only for certain sectors. These are:

  • Agriculture
  • Supply of services
  • Industry
  • Handicraft

Concessions for agriculture: Abolition of agricultural income tax

Good news for anyone who wants to open a new agricultural business or who already work in the sector is the abolition of agricultural income tax, took place thanks to the 2017 Stability Law. This is one of the best benefits for all those who operate or wish to open a farm.

This facility, in fact, provides for the cancellation of personal income tax on cadastral income of all farms that can access the facility. Furthermore, the cancellation of the personal income tax is combined with the abolition of the IMU and the agricultural IRAP, which took place already in 2016. Thanks to all these cuts, the overall savings in the agricultural sector amount to 1.3 billion euros .

There progressive reduction of agricultural income tax, it will be up to:

  • to direct growers
  • to professional agricultural entrepreneurs

The abolition of agricultural income tax will not take place in just one year. Starting from 2018, this will obtain a gradual relief which will then lead to its complete abolition within 3 years.

It may interest you: how to open a farm

Video: Getting a loan from FSA (May 2022).


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