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The City Council Abarán Microbank signed an agreement with La Caixa for microcredit finance (18/12/2008)

Abarán Mayor, Antonio Eugenio Gomez and Microbank CEO, Alberto López, today signed a cooperation agreement to finance microcredit.

This agreement will facilitate the lending of small amounts aimed at those with difficulty accessing traditional credit system.

It will support and encourage the development of innovative projects for people with entrepreneurial spirit.

The ceremony was also attended by the area director of La Caixa, Alfonso Bueno.

The agreement aims to benefit financially excluded people who wish to self-employment.

Abarán Mayor, Antonio Eugenio Gómez, said that "this measure is adopted to address the economic crisis and help people who want to work for themselves."

This agreement will facilitate lending to people with limited resources and vulnerable groups to promote productive activity, personal development and job creation.

The departments of Social Welfare and Local Development study the feasibility of projects and after approval, MicroBank conduct a second feasibility study.

Both studies will evaluate the originality of the proposal and the characteristics of the municipality.

Microbank, in operation since last year, is directed to all persons with limited resources and the third sector, with the aim of promoting productive activities, personal development and job creation.

The criterion of cohesion micocréditos following serves primarily to personal confidence and viability of projects to fund, customers can access them devoid of assurances and guarantees required by the traditional financial system.

La Caixa has funded more than 23,000 € projects from inception through its three divisions of funding.

Social Microcredit in an amount limit of 15,000 €, with an interest rate to 6.25% commission-free for a period of 4 years with optional capital deficiency during the first six months and focused on building activity productive, the Microcredit Finance in an amount limit of 25,000 €, which support self-employment and micro-entrepreneurs, and Family Support, providing access to funding of groups with limited resources.

Source: Ayuntamiento de Abarán

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