A SPACE TO SUPPORT BUSINESS CREATION

The National Program to Support Business Creation “Moukawalati” is put in place to encourage young people to create their own businesses.

CONDITIONS OF ACCESS
Targets:
  People who are graduates from the Moroccan public Vocational Training schools
  The graduates from higher education (Universities, graduate schools, etc.)
  People having a junior high school degree
Conditions :
  Being a Moroccan citizen
  Be aged 20 to 45
  Being candidate to a project representing an investment higher to or equal to 50,000 MAD ($US 5,870) and lower than equal to 250,000 MAD ($US 29,342)

Two people may create a partnership to increase the amount of the investment of the project to 500.000 MAD ($US 58,685).

ADVANTAGES OFFERED
Pre-creation support to would-be to support microentrepreneurs in preparing their business plan to be presented to the bank; Pre-Post-creation support will ensure sustainability of to the enterprise created; Also, an advance of funds with no interest for 10% of the investment and up to a limit of 15,000 MAD ($US 1,760) refundable over six (6) years, including three (3) years of grace period.

FUNDING
The would-be microentrepreneurs file their request for funding with the bank branch of their choice; In function of the business plan which will be included in the application, the bank will respond (positive or negative) within a maximum time period of 21 days; In order to encourage banks to finance the “Moukawalati” projects, the Government grants a guarantee of 85% for the bank credit.

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