micro banksocial bank CaixaBank, announced to coincide with the celebration European SME Day his volume operations together with various Spanish micro-companies, i.e. companies with less than ten employees and with a turnover of less than two million euros.
In total, in 2021 MicroBank provided 5,615 microcredits a company of this type to start or expand its activities in our country, with a total amount of 82.2 million euros and an average transaction value of 14,646 euros.
Which sectors benefit the most?
By industry, among MicroBank-funded companies, a large weight professional services (61% of loans), followed by those dedicated to retail (19%), hotels and restaurants (16%). It is followed, albeit far behind, by the commodity sector (2%) and business related to new technologies (2%).
In most cases (88%), the purpose of the funding is business expansionwhile 12% was used for start a new activity. In terms of applicant profiles, 43% have a university degree, 21% have a vocational degree, 17% have a bachelor’s degree and 16% have a compulsory education.
As regards the autonomous communities from which they are requested, Catalonia D Madrid They are at the top with 1821 and 1053 transactions respectively in 2021. They are followed by Andalusia (742), the Valencian Community (431) and the Canary Islands (246).
For example, it is in this last autonomous community that he is Communication of the Canary Islandsa company that develops an innovative application, Talk about parkingdesigned in such a way that tourists can comfortably manage various aspects of urban mobility.
Seed of Wealth
Micro-enterprises supported by MicroBank only in 2021 contributed to 2,472 million euros to the Spanish economy, this figure rises to 3,595 million euros, taking into account the rest of the entrepreneurs supported by the organization in the same year, with 1,781 million euros produced directly and 1,813 million euros indirectly and induced. In perspective, the global sum is 0.3% of Spanish GDPin addition to creating 4,866 new jobs.
“Support for micro-enterprises fundamentalas they are a very important part of the Spanish business structure and their activities. makes a huge contribution to job creationwealth and prosperity,” notes Cristina Gonzalez ViuCEO of Microbank. “These goals are consistent with our activities, so we will continue to direct our efforts to help all those micro-enterprises that need it,” he explains.
Christina Gonzalez, CEO of MicroBank.
Facilitating access to finance
micro bank it is a response to various segments of the population with financial needs that are not adequately covered. CaixaBank Sustainable Banking Plan is directly related to this, since its mission is to promote financial inclusion, facilitate access to credit for vulnerable groups and strengthen the commitment to the socio-economic development of the territory.
Caixa Bankthe sole shareholder of MicroBank, has supported its social bank since its inception by providing the necessary funding to promote its lending activities and promote its products through the organization’s commercial network, providing customers with access to full range of options with the highest quality and proximity in services.
In addition to CaixaBankwe actively cooperate in issuing microcredits 270 objects throughout Spain, providing information on the beneficiaries of each loan, in addition to advising and monitoring projects.
Internationally, MicroBank enjoys the support of major European institutions focused on entrepreneurship and microfinance development: the European Investment Fund (EIF), the Council of Europe Development Bank (CEB) and the European Investment Bank (EIB).
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