EU backs 1.5mln deal with Sparkasse for Macedonia's startups
Bank guarantees up to 25,000 euros to help entrepreneurs
12 October, 14:26Sparkasse will offer a brand new 'Step by Step'-programme, which includes financial guarantees up to 25,000 euros to support young entrepreneurs who want to create their own business and are in need of financial resources to do so. EU Commissioner for Employment, Marianne Thyssen, said: "Young entrepreneurs often face difficulties in accessing credit from traditional banking sources. With the help of financial guarantees from the EU's Employment and Social Innovation Programme, Sparkasse will offer start-up businesses loans at a reduced interest rate and less collateral requirements”.
Besides financial aid, the bank will also provide educational and mentoring support.(ANSA).