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
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
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 ($US 58,685).
Pre-creation support to would-be to support microentrepreneurs in preparing their business plan to be presented to the bank; Pre-Post-creation support will ensure sustainability of to the enterprise created; Also, an advance of funds with no interest for 10% of the investment and up to a limit of 15,000 MAD ($US 1,760) refundable over six (6) years, including three (3) years of grace period.
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.