Spain: Gijón gives micro loans to entrepreneurs

The Gijón town council starts up a service of micro-loans for entrepreneurs. The project has a budget of 1,6 million Euris for seven municipalities of Asturias. The basic aim of this initiative, which is included in an EQUAL project, is to provide entrepreneurs with technical and financial support. Micro-loans up to 30,000 Euros will be granted to new small entrepreneurs, who will not be required to present banker?s references, being their own businesses the only necessary guarantee. This initiative will guarantee non-payment with more than 113,000 Euros. This initiative is supported by a number of banks and chambers of commerce and organisations such as the Fundación Mujeres, the Fundación Secretariado Gitano, the Asturian Federation of employers and the regional branch of the trade union UGT. 75% of the total budget comes from the ESF while the remaining 25% from the regional government. Priority will be given to projects aimed at populations encountering particular difficulties to have access to the labour market. For more information: cuartomundoesp@terra.es