Investment: Mikrohitel

Mikrohitel
Mikrohitel is a Hungarian financial company created in 2004 by the Business Basics Foundation and Autonomia Foundation. Its mission is to finance social welfare projects, particularly those serving the Roma community. Its main activity is to provide bridge financing to nonprofits administering European Commission after-school programs for vulnerable youth. European Commission funds are usually paid on a reimbursement basis, making it impossible for small organizations to afford program start-up costs. Mikrohitel loans solve this problem by helping nonprofits pay for space, salaries and materials.

Why we invested
Mikrohitel was set up to provide Roma and other marginalized populations greater access to credit and to help create and promote self-employment opportunities. We provided financial support to establish Mikrohitel because, at the time, there were no other institutions in Hungary doing this type of work.

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