Microcredit

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Microcredit

  • Microcredit
    Microcredit
  • Microcredit
    Microcredit
  • Microcredit
    Microcredit
  • Microcredit
    Microcredit
  • Microcredit
    Microcredit
  • Microcredit
    Microcredit
 
Since 1998, the Barceló Foundation has used microcredit as a tool for development in certain parts of Africa and Latin America, providing small personal, returnable loans, without interest which allows the beneficiary to cover the purchase of materials, supplies and other expenses needed to launch a productive employment based activity.

Barceló Foundation provides microcredit mainly for women, who are the real ‘engines’ of development for their own families.

They are small amount loans, adjusted to the needs of each beneficiary and intended, primarily, to help people create or enhance strategies for self-employment, or, to establish, consolidate and strengthen small, current businesses.

Candidates in receipt of a microcredit are part of a low-income sector of the population, traditionally excluded from the usual sources of funding, as they are not able to provide the necessary financial guarantees.

Which kind of projects are funded with microcredit?

  1. Projects aimed at the creation and improvement of self-sustaining, productive employment among residents of low-income local communities.
  2. Projects promoting employment in private self-employment businesses and in micro-enterprises, formed by one or more beneficiaries.
  3. Projects aimed to improve agriculture and livestock.
  4. All projects must include a component of professional development.

Micresol Project (Solidarity microcredits)

  • Micresol
    Micresol
  • Micresol
    Micresol

In may 2015, the Barceló Foundation launches the project MICRESOL along with Bmn-Sa Nostra, ISBA and Cajamar to encourage the creation of jobs, boost entrepreneurship and help the development of microenterprises in Mallorca.

Microcredit is a medium-term financial transaction, aimed to start or improve business activities. Bmn-Sa Nostra, ISBA and Cajamar are the financial institutions responsibles of granting microcredits, with very favorable conditions and for a total amount of € 30,000 per beneficiary.

The beneficiaries of this project are, preferably, unemployed, self-employed and smes up to 5 workers.

“We are delighted to launch a project that will affect directly in the improvement of the employment situation in Mallorca. We are confident that, thanks to Micresol, beneficiaries may improve their living conditions and those of their families” said Rafael Torra, C.E.O of the Barceló Foundation.

Those interested in accessing to this credit lines must present a detailed report to the Barceló Foundation or any of the collaborating institutions of the project. Preference, it will be given to those projects with a higher job creation rate, which are directed to people over 45 years old rather than under 25/30 years old, and permanent contracts over temporary.

Download all project information here Download

See full list of projects

 

Current projects

BUKINA FASO
  • Microcredit for women in Burkina.
  • Microcredit for women in Ouadougou.
NICARAGUA
  • Technical, academic and vocational training.
  • Microcredit for farmers in El Rama and El Ayote.
  • Microcredit for entrepreneural women in the urban commercial sectors of Managua, Chontales, Nueva Guinea and Rama.
NIGER
  • Microcredit for small businesses in Diffa.
  • Microcredit for farmer women in Diffa.
DOMINICAN REPUBLIC
  • Financing of agricultural production in the province of Fantino.
  • Microcredit for farmers in Caballero, Fantino.
  • Educational microcredit for 70 students from poor families.

Previous projects

BURUNDI

Agricultural and educational projects.

IVORY COAST

Microcredit for women and youth from Gonzangueville.

KENYA

Purchase and breeding of six dairy cows for a school of mentally handicapped students.

NIGER
  • Development of activities such as hairdressing, farming and ranching in Diffa.
  • Microcredit for farmer women in Diffa and Bonkoukou.
ECUADOR

Self-employment for 150 poor women from the marginal area of La Libertad.

GUATEMALA
  • Purchase of seeds and supplies in Retalhuleu.
  • Grant of microcredit to purchase fattening bulls in Chahal, Alta Verapaz.
NICARAGUA
  • Support for rural livestock farms in Chontales.
  • Improvement of pineapple crops in Ticuantepe.
  • Home improvement for women in six districts of Managua.
  • Microloans to enhance women’s small businesses.
  • Microloans to improve malanga, cassava, corn and bean’s crops in Nueva Guinea.
DOMINICAN REPUBLIC

Support for the creation of micro-enterprises in slum districts.