Since January 2023, one hundred fifty customers have already taken advantage of the unique offer – a business loan, intended exclusively for women that MONETA Money Bank in the Czech Republic offered. In addition, interest in it is growing year by year. Together with the European Investment Fund (EIF), the Bank financed the projects of women entrepreneurs for almost CZK 60 million (approx. EUR 2,4 million) in nine months of this year.
The women who applied for this loan are most often engaged in wholesale and retail trade. “Other frequent business sectors include, for example, the manufacturing industry, professional, scientific and technical activities, accommodation, catering, and hospitality,” – says Zuzana Filipová, Director of ESG and Communications at MONETA Money Bank. Usually, women between the ages of 40 and 50 apply for a loan: the youngest was 22, and the oldest was 70.
“Diversity in the business sector is important, it brings a new drive to the business environment, which at the end of the day benefits everyone. This is also one of the reasons why we continue to cooperate with the EIF and support women entrepreneurs. Even though the Czech business is dominated by men, we see that women’s interest in entrepreneurship is growing. We are happy that we can participate in this thanks to the EaSI loan offer,” – says Zuzana Filipová in this context.
The predominance of men who run their businesses is also shown by MONETA’s portfolio of business accounts, which are made up of only a quarter of women. There can be several reasons why women hesitate to start a business. “Business is an uncertain and risky activity. Women generally are more cautious than men, therefore it is more secure for them to be employed. In addition, it is often not easy for them to combine business and family life,” – adds Zuzana Filipová.
MONETA Money Bank provides a loan in cooperation with the European Investment Fund (EIF) within the guarantee program for Employment and Social Innovation (EaSI). This institution guarantees the loan up to 80% of the total volume of funds provided. It is intended for women running businesses as self-employed persons or legal entities, where the ownership share of women exceeds 50% and at the same time the condition of a micro-company is met. Applicants can receive up to CZK 650,000 (approx. EUR 26,500) for business development in the form of investments or payment of operating expenses. More information can be found here (in Czech).
Source: the Bank`s press release dated October 17, 2023
