EC launches start up fund
The European Commission (EC) has launched a €100 million 'Progress Microfinance Facility' fund to help provide businesses with loans of up to €25,000.
The fund will help small firms employing fewer than ten people and is also available to those who want to set up in business after losing their jobs. The budget could increase to €500 million through funding from other financial institutions including the European Investment Bank. The fund is expected to be up and running in 2010.
Read more on the fund at:
http://ec.europa.eu/social/main.jsp?langId=en&catId=89&newsId=547&furtherNews=yes
