The national association of the right to credit (ANDC) has received 1,565 new applications this year, which resulted in 130 new projects and loans of almost €1.3 million.
The ANDC said that since it was introduced into Portugal 17 years ago, the amount of microcredit it had lent was about €13 million, resulting in 2,286 new jobs and the creation of an average of 157 microbusinesses a year over the past 10 years.
“The assessment studies conducted by ANDC have proven that microcredit is an effective tool in social inclusion and it is highly efficient from a social point of view, in supporting entrepreneurs”, the chairman of the ANDC, António Baptista said.
The areas with most successful applications are wholesale and retail trade, car repairs, accommodation, catering and similar.
“The demand for microcredit has been growing over the years and there are more and more entrepreneurs considering microcredit to start their businesses”, António Baptista added.