The EIF and Créa-Sol have signed a EUR 1 million microfinance extension agreement to benefit micro-enterprises in France. Following the first agreement, signed less than a year ago, EUR 2 million of support will now be available for micro-enterprises primarily in the PACA region, Corsica and Reunion island.
This transaction was signed under the European Progress Microfinance Facility (Progress Microfinance), funded by the European Commission and the European Investment Bank and managed by the European Investment Fund.
Thanks to this agreement, Créa-Sol, will be able to continue providing micro loans to micro-businesses in France, targeting in particular riskier borrowers who have difficulties in accessing the traditional credit market and cannot offer any third party guarantee.
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