On Wednesday 10 July 2024, microlux, the first microfinance institution in Luxembourg, announced its transformation into a societal impact company (société d'impact sociétal - SIS).
Microlux noted that obtaining SIS approval, reserved for commercial companies meeting the principles of the social and solidarity economy, validates and reflects its ongoing commitments to financial and social inclusion.
Since its creation in 2016, microlux has supported more than 1,000 people without access to traditional bank credit in their business creation project and has supported 260 entrepreneurs with microcredit, thus contributing to the creation and continuation of nearly 400 jobs. The non-profit social enterprise added that these achievements demonstrate its "significant impact" on the development of the local economy.
From now on, microlux's share capital is made up of 100% impact shares, thus guaranteeing the reinvestment of all of its potential profits in the maintenance and continuity of its activities.
Obtaining SIS approval is a major step for microlux, which has always counted on the "unwavering support" of its shareholders and its private and public partners to carry out its mission.
On this occasion, the microcredit institution is launching a call for sponsors to increase its impact and improve the living conditions of more people through entrepreneurship.
