Loans for foreigners , whether European or non-EU, help non-Italian citizens residing in the national territory to obtain support for their economic activities or personal needs. In fact, foreign citizens have the same needs as those Italians who go to a bank or a financial institution to obtain a loan: buy a property or a car, face sudden economic hardship, bear the costs of medical care or other eventualities very much common. If Italian citizens already have some difficulty in accessing credit, foreigners face some more difficulties.
The criteria with which foreign citizens can have access to a loan concern, as for all other people, a good personal and economic situation.
This means that documents must be presented that attest to one’s personal condition (for foreigners it is often required that they have a tax code), but above all that they certify an economic solvency that appears reliable to the bank. For this reason, the applicant must present the last pay slips and the tax return : the condition for obtaining a loan therefore remains that of having a job.
However, the situation of foreign citizens can be more complex. First of all we must distinguish between EU and non-EU citizens . For those who come from another EU country, it is sufficient to prove their residence in Italy. Non-EU citizens who wish to apply for a loan are required to meet additional requirements: they must have a valid valid residence permit and must have been in Italy for at least 6 months, doing paid work.
Regarding the types of financing for foreigners available , on the one hand there are the typical personal loans , which can be requested without any specific purpose, perhaps provided through the practice of salary- backed loans (the installment will be a maximum of 20% of the salary monthly), and those finalized, whose disbursement aims to satisfy a specific need. In particular, many Italian public bodies publish calls for applications for funding to support businesses and professional activities founded and managed by migrant workers. To obtain these loans for foreigners, in addition to the documents listed above, you must also present a plan to carry out the activity and a budget. Access to these tenders is established by the body that publishes them, but they are usually open to EU and non-EU citizens.