Microlux, Luxembourg's first microfinance institution, has announced its decision to lower its interest rates in the context of the economic crisis resulting from the COVID-19 pandemic.

According to the institution, the self employed who have no access to conventional bank credit are the first to be affected by the economic consequences of the coronavirus crisis. Despite the various state aid measures, some people are resuming their activity in a worrying situation and need more than ever a helping hand to revive their businesses.

In this context of economic recovery and faithful to its mission of social and economic inclusion, microlux has expressed its desire to get closer to these hard hit entrepreneurs by lowering their interest rates. The institutions is thus offering (from 15 June 2020) for a year loans of a maximum amount of €25,000 with exceptional conditions: 4% annual interest rate for any type of microcredit, whether for entrepreneurship or to find a job, with a deferred payment of up to six months. Microlux is also strengthening its network of volunteers to continue to provide free support to entrepreneurs in the process of creating, developing or relaunching their professional activity.

This new measure is also part of the support actions that microlux has put in place from the start of containment in order to support its existing customers in the face of this period of uncertainty (moratoriums on loan repayments, standard letter of request for assistance to owners, individualised monthly monitoring, etc.).

For more information, consult the microlux website or contact the team via tel.: 4568-6876 or email: info@microlux.lu.