Incipit Nova Dignitas Microcredit
The Incipit Nova Dignitas Fund was created with the aim of restoring the dignity of sustainable work to those who lack it because they live in an area that does not offer it.
The goal is to stimulate the creativity and resourcefulness of anyone with good will by making available the necessary funds to start the business without asking for any financial guarantee and without any economic interest.
In the granting of the loan, in micro credit, no material guarantees are required, but social guarantees based on mutual knowledge between those who give the money and those who receive it, or, more often, between groups of debtors and creditors. the person who the loan application must be known for its fairness and honesty.
Although the subjects receive the loans individually, the responsibility for the repayment involves all the members of the group; they are held legally responsible in case of non-refund and, in case of non-return, they are required to return the money to them. The responsibility of all members of the group who receive the money relieves the association from requesting guarantees in support of the sums disbursed.
The composition of the group takes place through a self-selection mechanism in which a figure is also identified who will act as responsible towards of the FADB association, the members of the group receiving the loan must not be directly related to each other.
The sum lent will be repaid starting from the thirteenth month of the start of the loan in twenty-four monthly installments.