Microfinance and Social Entrepreneurship axis of EaSI

ByREDI Editor

Microfinance and Social Entrepreneurship axis of EaSI

The Microfinance and Social Entrepreneurship (MF/SE) axis supports actions in two thematic sections:

Until 2016, Progress Microfinance will run alongside the new MF/SE programme.

Objectives

  • Increase access to, and the availability of, microfinance for vulnerable groups who want to set up or develop their business and micro-enterprises.
  • Build up the institutional capacity of microcredit providers.
  • Support the development of social enterprises, in particular by facilitating access to finance.

Funding

EUR 96 million is already available for interested microcredit providers and social enterprise through the EaSI Guarantee. It shall enable microcredit providers and social enterprise investors to reach out to entrepreneurs they would not have been able to finance otherwise for risk considerations. The Commission has selected the European Investment Fund as its entrusted entity to implement the EaSI Guarantee.

To apply for the EaSI Guarantee (direct or counter-guarantee), reply to a call for expression of interest on the European Investment Fund website.

Who can participate?

The European Commission does not directly finance entrepreneurs or social enterprises, but enables selected microcredit providers and social enterprise investors in the EU to increase lending.

Organisations that can apply for funding are public and private bodies established at national, regional or local level and providing microcredit for persons and microenterprises and/or financing for social enterprises in these countries.

Additionally, this site will help you to apply for loans and venture capital supported by the European Union. Click on your country to locate banks or venture capital funds that provide finance supported by the EU:

http://europa.eu/youreurope/business/funding-grants/access-to-finance/index_en.htm

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