Update on EaSI Programme for Microfinance 7 th June 2019, Vienna Filippo Chiesa Compliance and AML - PerMicro
PerMicro: the ambition to finance good entrepreneurial ideas and family needs Funded in 2007 in Torino (Italy). Specialised in microcredit for family needs and entrepreneurs, those who wish to start or further develop their own micro-enterprises, in particular people who have difficulties in entering the job market or in accessing finance. I EaSI guarantee fund II EaSI guarantee fund October 2015 – April 2018 April 2018 – April 2021 50 employees 70 employees 14 branches (3 South) 16 branches (5 South) Done in 2,5 years: Target in 3 years: 17 mln disbursed to 940 29 mln disbursed to 1.700 small entrepreneurs business
A boosting tool? BENEFITS ➢ Implementation European CoGC ➢ Lower interest rate from 11% to 7.9% and inquiry fee cap BE AWARE OF ➢ CoGC is an investment of time and ➢ Lower barriers to entrepreneurs: resources new potential-entrepreneurs; new branches ➢ New product (covenants respect) ➢ ICT systems implementation ➢ Ex-post assessment and checks ➢ Credit risk still existing GOOD NEWS ➢ 52% Start-up ➢ 47% under 35 ➢ 41% migrants ➢ 34% women (vs 25% national average)
➢ More ambitious target : to 7 mln (2014) per year to 10 mln (2020) Useful ➢ Trust and time : ex-post assessment, it does instrument not take time in the credit process ➢ Easy call and disbursement process for loss ➢ Controllers’ behavior (positive, collaborative, comprehensive) ➢ Technical assistance before starting: light due diligence about the process and ICT tools Room for ➢ Simplification : give me one number; improvement agreement without a legal opinion; collect only essential data ➢ New guarantee for other needs? Social inclusion: education, health, future (investing in their own country)
SUCCESS STORY https://www.youtube.com/watch?v=1ydJrde4N4M
THANK YOU! For inquiries and partnerships, reach me at: filippo.chiesa@permicro.it
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