In Germany, ESF funding is helping women and immigrant entrepreneurs to get access to loans and support jobs
Access to micro-credit loans can be a lifeline for small businesses and the self-employed who cannot access normal bank lending because the amounts are too small or they have no collateral to offer. To learn more about its clients, the Capital Institute in Germany surveyed 244 of its micro-credit customers. The results revealed that its micro-credit lending was securing the future of 290 businesses and 570 jobs – 357 of them full-time. In addition, most of these small loans are going to women or people with an immigrant background. The Capital Institute is an accredited micro-finance institution which has just celebrated awarding its 250th micro-loan. It is using national and ESF funding to offer micro loans of up to EUR 10 000 and more in some cases – and collateral is not always a loan condition.