MicroBank and the Instituto de las Mujeres have renewed their agreement to support women’s self-employment and entrepreneurial activities through microloans. This initiative, led by MicroBank's Cristina González and Instituto de las Mujeres' María Isabel García Sánchez, has already helped over 1,300 women start businesses.
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The renewed agreement addresses financing challenges faced by women by establishing a one-million-euro fund aimed at promoting self-employment and entrepreneurship. This fund supports the creation or expansion of micro-enterprises and self-run businesses, fostering gender equality and contributing to economic and social progress.
Key details:
• Eligibility: Freelancers and micro-enterprises with fewer than ten employees and an annual turnover under two million euros can apply for microloans up to €30,000.
• Requirements: Applicants need a business plan and a favorable viability report from bodies like the Chambers of Commerce and Escuela de Emprendedoras Juana Millán.
• Loan criteria: MicroBank assesses applications based on confidence in the applicant and project feasibility, without needing guarantees or collateral.
MicroBank commits to identifying financing needs to promote self-employment and the growth of micro-enterprises. The Instituto de las Mujeres, part of the Ministry of Equality, focuses on enabling gender equality and supporting women’s participation in various sectors while preventing gender discrimination.
The Instituto de las Mujeres offers programs providing advice, guidance, training, networking, and showcasing successful women entrepreneurs. Notable initiatives include Desafío Mujer Rural, Escuela de Emprendedoras Juana Millán, and Innovatia 8.3.
MicroBank, CaixaBank's social bank, emphasizes socially responsible banking and societal progress through impactful financing. In 2023, MicroBank financed 144,473 social projects in Spain totaling €1,383 million. This included €862.2 million through 118,753 microloans for families and €253.4 million through 19,267 microloans for entrepreneurs and micro-enterprises. This led to 5,723 women starting businesses, a 60% increase from the previous year, with €85.1 million in financing, a 73% rise.
MicroBank collaborates with 270 entities across Spain, providing expertise and support to loan recipients, promoting micro-enterprise creation, self-employment, and entrepreneurial activity.
