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Bed and Breakfast Loans, How to Request them

In the last years the tourism sector has experienced a strong explosion of bed and breakfasts that have changed the way people travel and stay all over the world and Italy is certainly no exception. Thanks above all to the new digital means of communication, those who manage these small accommodation facilities in tourist places have seen exponential growth in the number of customers: but to start and manage the activities of these exercises, which can have up to 6 rooms and a number of beds not exceeding 12, it may be necessary to request funding to support the various expenses necessary to meet the different needs: this is all you need to know about bed and breakfast loans, the facilities provided and how to apply for the loans made available.

Non-repayable loans for bed and breakfast

Non-repayable loans for bed and breakfast

Who owns a bed and breakfast structure can apply for non-repayable loans, ie they do not oblige the beneficiary to return the sum received, which are made available by the local authorities through specifically dedicated calls. It is difficult to summarize the requirements and above all the coverage of these subsidized loans for bed and breakfast, since the variables change in the call for tenders, but for general lines it is possible to state that these funds are intended for the renovation of the buildings or for the purchase of specific equipment necessary for the activity of landlords.

The regional and provincial authorities are usually responsible for providing these loans for these tourist structures, so it is advisable to periodically consult the official dedicated websites to keep up-to-date with possible publication of tenders, but at times also make these funds available to international institutions. Obviously, the structures present in places with a strong tourist vocation are more easily facilitated, but there is no shortage of funds also dedicated to areas that need to revive the economy following a natural disaster, for example the places hit by an earthquake. Moreover, being in many cases fund-free loans, women’s businesses or those of young people who want to start up business have an advantage in accessing funds.

How to apply for funding

How to apply for funding

Addressing the issue of how to request loans for bed and breakfast requires necessarily having to take into account, whether they are loans or subsidized loans to normal companies proposed by a credit institution, the particular regulatory situation in which these structures operate. It is good to remember that in order to have an activity of landlords it is not necessary to be registered with the Chamber of Commerce and to open the VAT number as opposed to other ‘normal’ business activities: if on the one hand this can translate into an advantage in bureaucratic terms, eliminating the hassle of complex and often cumbersome ways in which the state machine is used to express itself, on the other hand, by not considering the legal system the bed and breakfast a normal business, the normal access to credit is denied unless you regularize the own situation so you have   the necessary requirements to apply for a non-repayable loan.

Requirements for non-repayable loans

Requirements for non-repayable loans

Once you have ascertained that you have regularized your position by going to the Chamber of Commerce, you can take advantage of the advantages of being able to apply for a non -repayable loan that can be made available through a call by the local reference body. What are the access requirements ? Fortunately nothing too complicated, generally once you find the call for proposals is sufficient to complete the application and attach a detailed business plan. Recall that in the case of applicants under the age of 35 it is possible to resort to the loan of honor, with 50% of the loan being disbursed and the other half repayable through a loan at a subsidized rate, with lower interest rates on average 30 percent compared to the rate in effect at the time of access to financing.