Goals
Workforce Development Agency(WDA) provides assistance in Phoenix Micro Start-up Loan and offers interest subsidies for women, offshore island residents and the middle-aged and senior citizens to relieve the financial pressure at early-stage of start-up.
Qualifications
Applicants must be the owners of the enterprises and meet the following requirements：
- Age：females aged 20-65,elders aged 45-65 and offshore islands residents aged 20-65.
- Establishment registration：business / company registration or taxation registration within 5 years.
- Number of employees：the number of employees in the business is less than five(business owner excluded).
- Courses certificate：the applicant has involved in entrepreneurial training programs sponsored by the government for 18 hours within 3 years.
Implement Measures
The maximum amount of the loan is 1 million N.T.D. (Taxation registration is 500,000 N.T.D.),with low interest rate(according to the floating rate for 2-year postal savings plus 0.575%),and the interest is free for the first 2 years; moreover, the loan is guarantor-free, collateral-free, and 95% credit guaranteed.
Soft Terms for Special Identities
Applicants who meet certain requirements, are interest free for the first 3 years, such as families of special circumstances, victims of domestic violence, sufferers of occupational accidents, victims of criminal behavior, low-income households who meet the requirement of Public Assistance Act, natural disaster-stricken households, laborers affected by trade liberalization, and single breadwinners set out on Employment Service Act. From the 4th year, these applicants afford the fixed liability interest rate of 1.5% and WDA subsidizes the balance of interest.
Reapplication
To match the real financial needs of those who got the Phoenix Micro Start-up Loan before, the applicants may re-apply. The maximum amount of the second loan gets from the maximum amount deducting the initial amount.