Investment & Fund Management

The European Investment Fund (EIF) and Almi Företagspartner AB (Almi) entered into a guarantee agreement aimed at supporting approximately 230 micro-enterprises in five counties in Sweden within a year. The primary challenge faced by these micro-enterprises was their difficulty in accessing credit from traditional banking sources. This agreement was designed to enhance access to finance for entrepreneurs, particularly those from vulnerable groups, thereby contributing to social inclusion in Sweden.

The tailored solution provided through this agreement allowed Almi to offer microloans without collateral requirements in the counties of Västmanland, Örebro, Gävleborg, Dalarna, and Östergötland. This approach significantly improved access to finance for these businesses, enabling Almi to expand its lending activities to small and micro-enterprises across the region. The initiative is part of the Progress Microfinance program, which is funded by the European Commission and managed by the EIF, focusing on increasing financial access for micro-entrepreneurs, including those who are self-employed or belong to groups with limited access to conventional credit markets.

As a result of this agreement, Almi aims to replicate the success of this initiative across all regions in Sweden in the future, thereby broadening the impact of enhanced financial access for micro-enterprises throughout the country. This transaction marks a significant milestone, being the 60th signed under the Progress Microfinance initiative since its inception in 2010, with total commitments exceeding EUR 130 million to benefit EU micro-borrowers.