International Business Program

Society of Economic Promotion of La Palma (also known as Sodepal) and Micro Bank, social housing Caixa, have signed an agreement by which it aims to facilitate the provision of small loans to people with difficulties in accessing credit system traditional. In turn, this credit line will support and foster the creation of innovative projects for people with entrepreneurial spirit.

The objective of this Convention is to promote and enhance self-employment and entrepreneurship also aiming to promote equal opportunities for men, women, youth, newcomers, people with disabilities and vulnerable groups financially excluded.

In turn, it seeks to finance the establishment, consolidation or expansion of micro-business self-employed and self-employment projects with the aim of contributing to the creation and consolidation of employment.

Sodepal be responsible for analyzing the viability of the projects presented to ensure access conditions to the possible funding, providing support services and advice as well as detecting the funding requirements aimed at promoting self-employment.

In this context, Micro Bank create a line of funding for the projects presented, putting one million euros available to the projects submitted and approved by Sodepal.

However, the interesting thing about this line of credit is that the criteria for granting them is based primarily on trust in the person and the viability of the projects presented, enabling, thus, access to customers lack of collateral and the guarantees required by the traditional credit system.

In credit, there are three types. The social credit, for a maximum of 15 000 euros, focusing on the creation of productive activity. The micro-finance, with a maximum of 25 thousand euros is intended to support self-employment and micro-entrepreneurs. Finally the family assistance loans, which target groups with limited resources.

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