1. Micro Finance Programme
for women
Miriam Benterrak Ayensa

2. 2000-2006 Programming Period Micro Finance Programme
Aim
To support companies created by women or the process of creation, through giving them advice and counselling, seeking for financial support and helping them to deal with burocracy.
Co-financed by ESF (fight against discrimination OP)

3. 2000-2006 Programming Period Micro Finance Programme
Implemented Measures
Counselling and advice to entrepreneurs through women organisations, to support the company creation process.
Agreement with “La Caixa”, a Foundation from a saving bank, to give financial support to the program through Micro Finance.

4. 2000-2006 Programming Period Micro Finance Programme
Terms and conditions of the microcredit programme for women
Maximum amount: €
Grace period: 6 months
Maximum repayment period: 5 years
Current interest rate: 5% fixed rate
Guarantee: not required
Maximum financing level: 95% of project

5. 2000-2006 Programming Period Micro Finance Programme
Main features
The saving bank created a special unit for the assesment and approval of applications
Five women´s business organisations collaborated as Social Microcredit Support Organisations (liasion points between lenders and the microentrepreneurs)
Microcredits granted: 861

6. 2000-2006 Programming Period Micro Finance Programme
Main results
Each microcredit created 2,15 jobs (average)
The self-confidence and self-esteem of the
women entrepreneurs had greatly
improved, as well as their empowerment
at home
Business skills of the women had greatly improved, specially negotiation with suppliers and customers and knowledge and relations with the financial system (banks).

7. The new Micro Finance Programme
For the next 5 years transferability is guaranteed by :
Agreement between the Ministry of Equal Opportunities, and the Spanish Confederation of Savings Bank for the promotion and support to women’s companies

8. The new Micro Finance Programme
The support is guaranteed with an
Agreement between the Ministry of Equal Opportunities and eight women organisations to implement the activities related to the Micro Finance Program.

9. The new Micro Finance Programme
Difficulties:
The economical situation in 2008 caused a lower amount of money to grant Micro Finance at all levels.
Only a few Saving Banks joined the programme.
The financial entity called “Microbank” from La Caixa gives the 95% of the loans is enable to sign the agreement because it is not a Saving Bank.

10. The new Micro Finance Programme
Solutions:
A new strategy based in more coordination and specially communication between institutions has been developed to involved more savings banks
A different Agreement between Ministry of Equal Opportunities and Microbank (a social bank) in order to increase the amount of money addressed to give Micro Finance to business projects promoted by women.
Amount of Fund: 10M€
Max. Amount for credit: € ,