Investment & Fund Management
European Investment Fund Partner
Full Credential Description
Vegetable grower Anton faced significant challenges in securing financing for his agricultural expansion due to his lack of credit history and difficulty in proving his real income. This situation made it impossible for him to obtain a loan from local banks, which hindered his plans to grow more vegetables and expand his greenhouse.
To address this issue, Anton turned to Mikrofond, a Bulgarian microfinance provider that specializes in offering micro-credits. He successfully applied for a loan of EUR 1,150, which he used to purchase seeds, fertilizer, pesticides, and to finance the extension of his greenhouse. This tailored solution not only provided Anton with the necessary funds to enhance his farming operations but also allowed him to create additional job opportunities in his community. He occasionally hires seasonal laborers from the local Roma population, who are often in long-term unemployment, thereby contributing positively to the local economy.
As a result of this financial support, Anton has stabilized his business, enabling him to remain in his local village and care for his parents while enjoying the fruits of his labor. The micro-credit from Mikrofond has not only facilitated his agricultural growth but has also had a meaningful impact on his life and the lives of those in his community.