Belgian microfinance institution microStart to benefit over 3,000 microenterprises through €30m EIF deal

EU Commissioner for Jobs and Social Rights Nicolas Schmit said: “This financial agreement under InvestEU could be a game-changer for thousands of small businesses in Belgium. More than 3 000 Belgian microenterprises stand to benefit from new access to financing, which will help create new jobs in the community.”

microStart CEO Guido Busseniers commented: ““Belgium is a country of family businesses and as a social impact organisation, microStart helps the weakest entrepreneurs to set up their business. The EIF guarantee is an important component of our business model next to the coaching capabilities of our experienced volunteers. Since we launched, we have helped over 9 000 entrepreneurs and provided more than 5 000 loans. This would not be possible without the EIF guarantee. With this new facility, we will continue to serve even more entrepreneurs and create more jobs in Belgium.”

EIF Chief Executive Marjut Falkstedt added: “Our relationship with microStart goes back a long way, and we are glad to continue our partnership, supporting Belgian microentrepreneurs in getting improved access to finance. Too often, very small companies have a hard time finding the right type of financing, and part of the EIF’s mission is to address that. We’re happy to have a stable partner in microStart to support this key segment of the economy.”

Background information

The European Investment Fund is part of the European Investment Bank Group. Its main goal is to support microenterprises and small businesses by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments that specifically target this market segment. In this role, the EIF contributes to the pursuit of key EU policy objectives such as competitiveness and growth, innovation and digitalisation, social impact, skills and human capital, climate action and environmental sustainability.

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of sustainable recovery. It also helps mobilise private investment for EU policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof a multitude of EU financial instruments previously available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is deployed through implementing partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

microStart SC-ES is a non-bank microfinance institution in Belgium founded in September 2010 by ADIE and BNP Paribas Fortis (BNPPF). microStart SC-ES also operates through an association, microStart Support ASBL (“microStart Support”), which offers business development services to final recipients. microStart provides microcredits whilst microStart Support grants business development services such as training and mentoring to final recipients.

Press contacts

EIF: Tim Smit, +352 691 28 64 23, t.smit@eib.org

microStart : Sandra Fernandez, +32 484165283, sandra.fernandez@microStart .be

European Commission: Flora Matthaes, tel.: +32 229 83951, flora.matthaes@ec.europa.eu