Reinforcing Med Microfinance Network System for Start-ups

Greece National Mesures – MicroSTARTS Microloans

MicroSTARS Microloans
Name of responsible organization: Business and Cultural Development Center (KEPA)
Venture Website: 
Starting year 2017End year
NPO that provides Microloans as well as Entrepreneurial One-to-One Consulting and online Seminars. Specifically, it provides microloans to micro/small companies (in collaboration with Cooperative Bank of Karditsa & Pancretan Cooperative Bank), as well as Individualized Counselling Support (4-5h per client) plus E-Learning, free of charge. MicroSTARS has supported 45 new mSMEs or Personal Companies.

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 
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)
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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