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The EU backs Aros Kapital to support micro-enterprises with €18.1 million

    Date: 11 May 2020
  • Aros Kapital signs SEK 200 million guarantee agreement with the European Investment Fund (EIF) under the European Union programme for Employment and Social Innovation.
  • The guarantee will cover a portfolio of up to €18.1 million in loans from Aros Kapital, who will primarily support micro-enterprises with loans of up to €25 000 (SEK 275.000).
  • The agreement has the backing of the Investment Plan for Europe.

The European Investment Fund (EIF) has signed a SEK 200 million guarantee agreement with Aros Kapital to provide small loans for micro-enterprises in Sweden. Eligible companies can get loans of up to SEK 275,000. The agreement will guarantee a portfolio of microcredit operations by Aros Kapital of up to SEK 200 million.

Daniel Güner, Aros Kapital CEO, stated: “It is good, and important, to launch microcredits in these tough times. Our ongoing ambition is to be a close partner to Sweden’s small businesses, and in this recession it is more important than ever. The availability of micro-loans could not be more timely.”

European Commission Executive Vice-President Valdis Dombrovskis said: “We are pleased to announce the EaSI guarantee agreement with Aros Kapital for the benefit of micro-enterprises in Sweden. The scheme will improve access to finance for very small businesses, by offering low interest rates and reduced collateral requirements. In these challenging times, it is paramount that we provide liquidity to companies in need.”

Alain Godard, Chief Executive of the EIF, added: “This agreement is an important boost to small companies in Sweden, which are feeling the effects of the ongoing corona outbreak. Aros Kapital is one of the first financial intermediaries in Sweden to offer micro-loans and we are very happy, in these tough times, to partner up with them and support local businesses.

Through the EaSI Guarantee, funded by the EU and implemented on its behalf by the EIF, Aros Kapital will be able to issue new loans, guaranteed up to 80% by the EIF, to Swedish micro-enterprises. Loans under this agreement will be available to companies with a maximum of 9 employees and whose annual turnover or annual balance sheet total does not exceed €2 million.

Financing under the EaSI guarantee will be provided to companies directly by Aros Kapital. More information and eligibility requirements can be found on their website www.aroskapital.se

Background information:

Aros Kapital is a finance institute focusing on loans, credits and leasing for small and medium-sized companies. The company is based in Gothenburg and since 2015 has been an associated company in Mellby Gård's portfolio.

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe's micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.

Under the European Union Programme for Employment and Social Innovation (EaSI), the European Union supports microfinance and social entrepreneurship finance with an overall envelope of €193 million for the 2014-2020 period. The aim is to increase access to microfinance, i.e. loans

of up to €25 000, in particular for vulnerable persons and micro- enterprises. In addition, for the first time, the European Union is also supporting social enterprises through investments of up to €500 000. The EaSI Guarantee is a capped guarantee (or counter-guarantee), offered to financial intermediaries. It covers their loan portfolios for microfinance and social enterprises. This risk-sharing mechanism enables an intermediary to reach out to vulnerable groups, micro-enterprises and social enterprises that they would not have been able to finance otherwise. The European Union has selected the EIF to implement the EaSI Guarantee.

Press Contacts:

Aros Kapital:
Niklas Skyttä, Tel: +46 733-40 64 84, niklas.skytta@aroskapital.se

European Commission:
Siobhán Millbright, +32 460 75 73 61, Siobhan.millbright@ec.europea.eu

EIB Group:
Tim Smit, t.smit@eib.org, Mobile:  +352 691 28 64 23, Follow us on Twitter @eif
Website: www.eib.org/press - Press Office: +352 4379 21000 – press@eib.org


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