Microcredit Fund Germany
With the Microcredit Fund Germany , the federal government wants to improve access to capital for small businesses and start-ups. The fund has a volume of 100 million euros from the federal budget and the European Social Fund . Private banks that cooperate with microfinance institutions and the German Microfinance Institute have been commissioned to set up a comprehensive range of microcredits in Germany . Up to the end of 2012, 64 microcredit financiers had been accredited, most of which were private organizations and non-profit start-up support organizations. By 2015 [obsolete] over 15,000 microloans are to be granted.
The fund promotes the establishment of microfinance institutions. It also secures the microloans so that the operating GRENKE BANK AG can implement the microfinance institutions' credit recommendations.
history
The first microcredit fund was launched in 2000, supported by GLS Bank, the state of Brandenburg and the Enterprise start-up workshop, which has been advising young entrepreneurs on setting up their own business since 1999. Similar microcredit funds followed in five other regions. The local projects were bundled in 2004 through the establishment of the German Microfinance Institute and the bar microfinance fund. KfW , the Federal Ministry of Labor and Social Affairs (BMAS) and the Federal Ministry of Economics and Technology invested in the microfinance fund Germany. More than 5,000 loans were granted between 2005 and 2009. The credit volume was more than 3 million euros; the default rate was 2.8% in relation to the loan repayments. In 2009, the Federal Ministry of Labor and Social Affairs announced the new microcredit fund Germany to significantly expand lending. In the following year, it was planned to increase the number of microfinance institutions from 10 to over 40; 35 were achieved. 1750 loans were granted. On April 6th, a new round of admission for interested organizations to grant loans began at the end of 2011. In 2011, Volksbank Mittelhessen became a microfinance institute for the first time. The microcredit fund was extended in 2015 with GRENKE BANK AG as a new cooperation partner. [outdated]
Activities of the Fund
The fund generates income from which the reimbursement of costs for GRENKE BANK AG for coordinating the program, the reimbursement of costs for lending and loan defaults are offset if they are not borne by the microfinance institutions within the framework of a liability regime. He pays bonuses and unit fees to the microfinance institutions and asks them to pay first-loss liability in the event of credit defaults . Only beyond this does the microcredit fund assume liability.
Individual evidence
- ↑ accredited DMI microfinance providers , accessed December 15, 2012
- ↑ a b c BMAS: Right instrument at the right time ( Memento from July 1, 2011 in the Internet Archive ) , February 7, 2011, accessed on February 19, 2011
- ^ History , accessed on November 24, 2011
- ↑ How to become a microfinance institute ( Memento of the original from March 22, 2011 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , Accessed April 5, 2011
- ↑ Funding database: Detailed view of the German microcredit fund , accessed on December 15, 2012
