Millennium BCP (Portugal)

António used to work as a waiter in a restaurant in the small touristic town of Armação de Pêra on the Algarve coast. As the restaurant faced difficulties from time to time, Antonio worked there without a work contract. Chances of improving his working conditions in the near future were slim. So with his years of experience in the restaurant industry, he decided to go to the Portuguese Microfinance provider Millennium BCP to ask for a loan to open his own restaurant. With the EUR 7 000 loan and all of his personal savings, he opened a small snack bar on the beach. The sea food and traditional Portuguese treats are proving to be a big hit in the village and Antonio continues to enjoy doing what he had always dreamt of doing.

 
Type of business: Restaurant
EU-guaranteed micro-loan from Millennium BCP: EUR 7.000

For further information about EIF intermediaries in Portugal, please refer to:
http://www.eif.org/what_we_do/where/pt/