Ebitemp has set up a guarantee fund for the concession of small personal loans at favourable conditions. The fund is activated through an agreement with Monte dei Paschi di Siena bank.
The conditions of the loan
Sum: up to 2,500 euro
Interest rate: zero
Commission for processing loan: exempt
Sum: from 2,501 euro to 4,000 euro
Interest rate: 3%
Commission for processing loan: exempt
Sum: from 4,001 euro to 10.000 euro
Interest rate: 4%
Commission for processing loan: exempt
Who can ask for the loan
A personal loan can be requested by workers in temporary employment on fixed-term contracts that are employed by the Employment Agencies associated with Ebitemp and who, at the moment the request is made, have a residual mission period of no less than one month.
Who decides on the loan
The requests will be examined by a commission which in reaching its decision will take into account the reasons and requirements that formed the basis of the request. The commission reserves the right to ask the worker for additional information.
In the case of a positive out come the request will be sent by Ebitemp to the Bank for the loan to be released.
How much can be asked for in the loan
The Guarantee Fund which was set up for the access to credit ensures services for workers in temporary employment, in accordance with the following conditions.
In retail credit, relating to loans from 1,000 to 4,000 euro, three tiers can be identified:
• for loans of up to 1,000 euro no consideration will be given to the reason which must in any case be given: for the loan to be obtained a mission of at least 30 days and economic compatibility are required (assessment depending on wages)
• for loans between 1,000 and 2,500 euro the commission will assess the reasons: even in this case a mission of at least 30 days is required as well as economic compatibility
• loans above 2,500 and up to 4,000 euro will only be granted to workers that have already paid off a loan of at least 1,000 euro that was also granted by Ebitemp. The commission will assess the reason: a mission of at least 30 days and economic compatibility are always required.
The loan will be granted to all workers who have already paid off a previous loan from the Body: the commission will assess the reason and it is necessary to have a residual mission of at least four months and economic compatibility. The worker will also need to present a personal income statement, have a bank account and set up a direct debit repayment scheme.
In the request the workers must specify the amount of the loan and the number of monthly instalments they will require to pay it off in.
The repayment timeframe can normally extend to a maximum of 9 months after the expiry of the contract for sums of up to 4,000.00 euro. For sums between 4,000.00 and 10,000.00 euro it can be extended to a maximum of 42 months.