Press Release: Micro-enterprises to benefit from first EaSI microfinance deal in Estonia

The European Investment Fund (EIF) and Estonian financial group AS LHV Pank (LHV) signed a guarantee agreement on 24 May 2016 aimed at supporting micro-enterprises in Estonia under the EU Programme for Employment and Social Innovation (EaSI).

This new EaSI guarantee agreement with LHV covered a loan portfolio of EUR 12 million for over 700 micro-borrowers including young entrepreneurs establishing start-up businesses, ethnic minorities, and micro entrepreneurs with limited access to credit. The new loan product 'LHV Micro loan' was launched in May 2016. The loan application process was web-based, automatic and made as user-friendly for clients as possible. The EaSI Guarantee scheme was launched in June 2015 and is funded by the European Commission and managed by the European Investment Fund.

• Primary Source

ESO: Background information: Website: EU Programme for Employment and Social Innovation (EaSI) http://www.europeansources.info/record/website-eu-programme-for-employment-and-social-innovation-easi/

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