The president of the Lanzarote Businesswomen's Association, Beatriz Salazar, and the commercial director of MicroBank, Ramón Gatell, have signed a collaboration agreement for the financing of microcredits. The agreement between MicroBank, Caixa's social bank, and the association will facilitate small loan operations aimed at those people with difficulties in accessing the traditional credit system. It will also support and promote the creation of innovative projects by people with an entrepreneurial spirit.
MicroBank, in operation since September 2007, is aimed at all people with limited economic resources, with the aim of promoting productive activity, personal development and job creation. The criteria for granting microcredits by MicroBank is based primarily on trust in the person and the viability of the projects to be financed, and can be accessed by clients lacking legal guarantees and endorsements required by the traditional financial system.
The bank has financed more than 41,000 projects since its inception through its lines of activity: Microcredits for businesses, for a limit of 25,000 euros, for self-employed workers, small business owners and entrepreneurs, focused on the creation of productive activity, and family microcredits, which aim to meet family needs that allow them to overcome temporary difficulties and facilitate personal development.
The social nature of microcredits is supported by the fact that more than 44 percent of micro-entrepreneurs are women and more than 57 percent are immigrants, two of the population sectors with greater difficulties in accessing the labor market. The activities that predominate among the businesses launched by MicroBank beneficiaries are commerce (42 percent), service companies (37 percent) and the hotel industry (16 percent).
Agreements with more than 390 social entities
In the granting of microcredits, in addition to the 5,500 Caixa offices, entities collaborate that provide knowledge of the people to whom loan operations have been granted, advise and monitor the projects. To date, MicroBank has signed agreements with 392 social entities throughout Spain that ensure the viability of the financed projects.
The collaborating social entities are organizations of all types with experience in economic or social assistance actions aimed at promoting the creation of microenterprises, promoting self-employment and incentivizing entrepreneurial activity. MicroBank is present in the main microfinance forums in Spain and Europe, including the European Microfinance Network.
