MicroBank and the Women's Institute revalidate their collaboration agreement to facilitate the financing of business projects through microcredits. Through the agreement, the creation or expansion of micro-enterprises, self-employed businesses, and self-employment projects will be financed, with an annual turnover of less than two million euros. So far, 1,300 women have boosted their businesses with the support of this initiative by MicroBank and the Women's Institute, attached to the Ministry of Equality.
The renewed agreement, signed by the general director of MicroBank, Cristina González, and the director of the Women's Institute, María Isabel García Sánchez, establishes a financing line of one million euros to promote self-employment and incentivize entrepreneurial activity, with the aim of combating the greater difficulties women face in accessing financing when starting a business.
Applicants may opt for microcredits for a maximum of 30,000 euros, and their projects must have a business plan and a favorable viability report, prepared by collaborating entities of the Women's Institute, such as the Chambers of Commerce and the Juana Millán School of Entrepreneurship.
The Women's Institute develops different programs to promote and support female entrepreneurship, which include advice, accompaniment, training, visibility of leading entrepreneurs, and networking among them.
Last year, 5,723 women started a business with MicroBank financing, a 60% increase, considering both the agreement with the Women's Institute and its activity in general. In total, CaixaBank's social bank granted loans worth 85.1 million euros to entrepreneurs, representing a 73% increase compared to the previous year.