NT$2 billion available for youth entrepreneurs

The sum was jointly provided by domestic banks and the government’s Sino-American Fund for Economic and Social Development, CEPD officials said.

Over the past 10 years, the fund has provided a total of NT$7.33 billion, including NT$1 billion this year, as start-up loans for youth entrepreneurs, the officials noted.

Loans totalling NT$27 billion have been granted to 30,401 young business starters during the period, creating a total of 146,769 jobs.

During the first four months of this year alone, 258 people obtained loans worth a total of NT$199.81 million, with 937 jobs created.

To encourage youth entrepreneurship, the CEPD and the National Youth Commission on May 1 lowered the interest rate for the start-up loans, and extended the repayment period of non-secured loans to six years and that of secured loans to 10 years.

The loans are open to any persons aged 20-45 who have job experience or have received training provided by accredited agencies.

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