Women in Business Program
It is a regional program in the Western Balkans, funded by the EU, Italy, Luxembourg, Sweden and the European Bank for Reconstruction and Development (EBRD) Special Shareholders Fund, and implemented by Intesa SanPaolo Banks.
The program started in 2015 with a value of 2 million Euro for Albania. It is a combination of credit line from Intesa SanPaolo bank and consulting from the EBRD. During the period 2015-2018, 68 women entrepreneurs were supported and the entire first fund of 2 million Euro was disbursed, but no entrepreneur was a start-up.
At the end of 2019, the second phase of the program has started with a fund of 5 million Euro, which will be active until 2023.
Intesa San Paolo Bank has introduced 2 packages, of products and services for women in business, which are about 65% cheaper than standard ones and includes current accounts, internet banking, automatic payments of utility bills, payments on arrival / departure from other banks etc, as well as 2 types of loans for women entrepreneurs:
-Short-term loan up to 50,000 Euro for investments up to 3 years, bank participation up to 100% and
-Long-term loan up to 500,000 Euro for up to 5 years and bank participation up to 80%
Grace period (where only interest is paid) up to 24 months.
The interest rates on loans is about 1.5% lower than the standard given by the bank.
Eligibility criteria:
- Be registered in the National Business Center (QKB);
- Be a woman administrator or owner;
- A woman may be a shareholder, but she has an important decision-making role;
- To have an annual turnover of less than 50 million Euro;
- Up to 249 employees.
For more: http://www.ebrdwomeninbusiness.com; https://www.intesasanpaolobank.al