The Microloan Programme has been running since 1997. It has a revolving nature. Product "microloan" provided by the SBA is unique in Slovakia by its character. It is simple, regionally accessible and responsive to the financial needs of small businesses.
An applicant who meets the following criteria may apply for a microloan:
- natural or legal person being an entrepreneur according to art. 2, par. 2 of the Act. No. 513/1991 Coll. Commercial Code,
- meeting the definition of micro/small entrepreneur in accordance with the Recommendation of the European Commission 2003/361/EC of 06th August 2008 (e.g. must have less than 50 employees, annual turnover up to 10 mil. EUR or annual balance sheet in total of no more than 10 mil EUR, meets the criterion of independence),
- registered in the Commercial or Trade register or other relevant business evidence,
- holder of a business license or other relevant license/authority,
- integrity (proven by the extract of a Criminal Record),
- no sector limitation, except the sectors of gambling, production and trading of arms, tobacco, genetically modified organisms, human cloning.
- entire territory of Slovakia
The amount of microcredit:
- minimum amount: 2 500 EUR
- maximum amount: 50 000 EUR
Maturity of microloan:
- from 6 months up to 4 years (optional grace period for the initial/first payment up to 6 month)
Objectives of the programme:
Disclosure of financial/credit resources to micro/small entrepreneurs in Slovakia under a more favorable terms comparing to commercial market conditions.
The Microloan Programme addresses the issue of access of small entrepreneurs to the capital. It focuses on increase of the rate of survival of micro/ small enterprises and start-ups, thus creating conditions for job maintenance and creation of new job opportunities in different regions of Slovakia.
Purpose of the programme:
- providing financial support to micro and small entrepreneurs through microcredits with preferential terms but with no state aid element;
- increase the sustainability of small businesses;
- creating conditions for job/employment maintenance and creation of new job opportunities in the regions of Slovakia.