As part of a unique business loan intended exclusively for women entrepreneurs, MONETA has already provided financial assistance to almost 150 applicants in a total amount of over 60 million crowns (approx. 2 365 530 EUR). The bank started providing the financial product exactly a year ago. The loan is provided by MONETA together with the European Investment Fund within the EaSI employment and social innovation guarantee program, and currently offers a rate of 4.9% pa.
“Diversity in the business sector is important, it brings a new drive to the business environment, which is beneficial to everyone at the end of the day. This is also one of the reasons why we continue to work with the European Investment Fund and support women entrepreneurs. Women have gained more courage to enter the business, which is confirmed by the fact that in recent years, among the newly established businesses, they have surpassed those businesses where women were born. We are glad that we can participate in this thanks to the offer of EaSI loans“ said Zuzana Filipová, Director of Communications and ESG MONETA Money Bank.
The EaSI loan, for example, played a key role in the business story of Iveta Manieri, who runs an Italian cheese factory. With the advent of the coronavirus pandemic, it had to provide a new way to reach clients because markets and restaurants were closed. “The loan covered the costs of the mobile shop and part of the new production machine and not only helped us survive the situation but even financed new production technologies, which kicked us forward,” says businesswoman Iveta.
The Expres Business EaSI business loan is intended for business development in the form of investments or payments of operating expenses. The loan can receive women doing business as self-employed persons or legal entities in which the proportion of women exceeds 50%.
Customers affected by the Covid-19 coronavirus pandemic can currently benefit from the EaSI guarantee. The loan offers an interest rate of 4.9% pa and the option to repay for up to 10 years, while the first principal payment can be deferred by up to 6 months when arranging the loan.
The EaSI guarantee under the Employment and Social Innovation Program is funded by the European Union, and the guarantee institution is the European Investment Fund as instructed by the European Commission. This institution guarantees a loan of up to 90% of the total amount of funds provided. The loan uses a guarantee financed by the European Union under the Employment and Social Innovation Program (EaSI).
ABOUT THE EMPLOYMENT AND SOCIAL INNOVATION PROGRAM
Under the European Program for Employment and Social Innovation (EaSI), the European Commission is supporting microfinance and social entrepreneurship funding totaling 193 million EUR for the period 2014-2020. The aim is to extend access to microfinance, ie loans of up to 25 000 EUR, especially for vulnerable people and micro-enterprises. In addition, for the first time, the European Commission is also supporting social enterprises through investments of up to 500 000 EUR. Microfinance and social entrepreneurship are supported primarily through the EaSI guarantee, which will enable microcredit providers and social enterprise investors to offer services to entrepreneurs to whom they would not otherwise be able to provide finance due to the risks. The European Commission has chosen the European Investment Fund to implement the EaSI guarantee.
Source: Bank’s press release from December 09, 2021