NRW.Microloan: NRW.BANK supports over 1,000 start-ups with 22.7 million euros

NRW.Microloan: NRW.BANK supports over 1,000 start-ups with 22.7 million euros

The NRW.Microloan was introduced 15 years ago and is financed by NRW.BANK. This funding program has already supported more than 1,000 small business start-ups, with a total of 22.7 million euros being paid out. The NRW.Microloan has a wide range of supported business ideas, from gift shops to household help. An example of a start-up that was made possible by the NRW.Microloan is the candy and gift shop Candybär in Düsseldorf, which was founded by a refugee from Iran.

NRW.BANK and the state of North Rhine-Westphalia have launched the NRW.Microloan to help founders with low capital requirements to implement their business ideas. The program has proven to be successful, as an average funding of 22,700 euros was awarded per start-up. This shows that even small investments can create promising companies.

The NRW.Microloan supports founders of small businesses with up to ten employees with loan amounts of up to 50,000 euros. In addition to start-ups, growth and expansion investments by young companies are also supported. The applications are submitted online in the NRW.BANK customer portal and receive technical support from the STARTER CENTER NRW. The term of the loan is ten years, with the first six months being repayment-free. The loan is specifically tailored to the needs of the self-employed and small businesses and does not require any equity or collateral.

Half of the funding for the funding program comes from the state of North Rhine-Westphalia and half from the European Regional Development Fund (ERDF). It is a revolving fund, so that repaid funds can be passed on to small founders.

Overall, the NRW.Microloan has a positive impact on the market for small businesses in North Rhine-Westphalia. The financial support enables more start-ups to be realized, which helps to strengthen the economy in the region. The program also offers an opportunity for people with low capital needs to implement their business ideas and grow successfully.

According to a report by www.business-on.de.