The European Progress Microfinance Facility is a microfinance initiative established in March 2010 with EUR 200 million of funding from the European Commission and the European Investment Bank.
European Investment Fund and Microfinance consists mainly of micro-loans (less than EUR 25,000) tailored to micro-enterprises (91% of all European businesses) and people who would like to become self-employed but are facing difficulties in accessing the traditional banking services.
In EU 99% of all start-ups are micro or small enterprises and over 30% are launched by unemployed people. What new policy initiative can supersede the existing EIF scheme and how can this be delivered without going through the same failed banking system?
It is unreasonable to ask high interest rates when the majority of the risks by the 'lender's stake' is guaranteed. Does the state or EU pay for risk, investment or security?
Low interest, high risk is unique. High interest and low risk is unreasonable from the States perspective.
Other options include minimizing the 70% startup failures in startup phases. These failure are mainly due to poor support mechanism for micro-entreprises and cash flow management.
I propose a new scheme for innovative entrepreneurs that is supported by seasoned entrepreneurial investors in a mentorship program for early stage startups, called BEGIN...Business Entrepreneurial Grant Investment Network. Microfinance with mentorship and VC positioning for growth.
David Mullins
Posted on 14 Feb 2012 12:09 pm
The European Progress Microfinance Facility is a microfinance initiative established in March 2010 with EUR 200 million of funding from the European Commission and the European Investment Bank.
European Investment Fund and Microfinance consists mainly of micro-loans (less than EUR 25,000) tailored to micro-enterprises (91% of all European businesses) and people who would like to become self-employed but are facing difficulties in accessing the traditional banking services.
In EU 99% of all start-ups are micro or small enterprises and over 30% are launched by unemployed people. What new policy initiative can supersede the existing EIF scheme and how can this be delivered without going through the same failed banking system?
It is unreasonable to ask high interest rates when the majority of the risks by the 'lender's stake' is guaranteed. Does the state or EU pay for risk, investment or security?
Low interest, high risk is unique. High interest and low risk is unreasonable from the States perspective.
Other options include minimizing the 70% startup failures in startup phases. These failure are mainly due to poor support mechanism for micro-entreprises and cash flow management.
I propose a new scheme for innovative entrepreneurs that is supported by seasoned entrepreneurial investors in a mentorship program for early stage startups, called BEGIN...Business Entrepreneurial Grant Investment Network. Microfinance with mentorship and VC positioning for growth.