Reinforcing Med Microfinance Network System for Start-ups

Greece National Mesures – AFI Microloans

AFI Microloans
Name of responsible organization: AFI Greece
Venture Website: www.afi.org.gr 
NATIONAL OR LOCALNational
Starting year 2014End year
NPO established in Greece at 2014 by Action Aid Greece and French ADIE.

What kind of activity does this measure finance?

Creation of new businessesYES
Strengthening of existing businessesYES
Specific investments – specify type (i.e. innovation, research, environmental transition, hiring, internationalization, purchase of goods)All sectors. Have supported 350 new mSMEs or Personal Companies.
Training activitiesNO
Other (specify)NO


What type of financing is it?

Low-interest loan (indicate the repayment time and, if present, the requirement for collateral)Micro-loans from 1.000€ up to 12.500€, IR 7,47-8,60%, duration up to 5 years and payout up to 2 years after.
Non-repayable grant (indicate the percentage of non-repayable fund)NO
Tax creditN/A
Other (specify)N/A


How does the activation of the measure work?

One-stop means www.afi.org.gr 
Call with closing dateNo


Financial entity of the measure (indicate the resources allocated)

Overall amountN/A
% facilitation for each recipientΝ/Α
Minimum amount that can be financedN/A
Maximum amount that can be financedΝ/Α
Origin of financial resources (European, State, Regional authority, Municipal authority, other)Private Donors, CSR programmes and AFI’s partners, support financing of beneficiaries


Type of funded social structure (indicate if belonging to a specific category is required in order, to access the measure)

FemaleOver 50Unemployed (specify any type)Disadvantaged groups (specify type)Youth (specify age range)Other (specify)
Individual
Company 
Target group is long-term unemployed, vulnerable categories, micro-entrepreneurs without access to bank lending.


Does the measure provide for accompaniment and training or only financial support?

Financial support + accompaniment/trainingNO
Only Financial supportNO


Is the measure considered a good practice and as such replicable in other national and / or international contexts?

YESYes, it is a good practice


How many initiatives have been financed in the last 3 years and for what economic amount?

Number of initiatives: 350 new businessesTotal economic amount: N/A
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