On Tuesday 11 February 2025, Luxembourg-based financial institution, Microlux, announced an increase in the maximum amount of loans granted from €25,000 to €50,000.
Microlux stated that, in line with its social mission of financial inclusion and support for entrepreneurs who do not have access to traditional bank credit, it is changing its financing conditions to better meet the needs of entrepreneurs. This will allow increased support for project leaders in Luxembourg.
People who wish to obtain microcredits greater than €25,000 and up to €50,000 will have to meet additional conditions:
- for business creators: a minimum personal contribution of 20% of the total financing plan is required;
- for entrepreneurs who have already started their business: a minimum history of one year of activity is required.
These conditions are in addition to the presence of a guarantor for one third of the amount of the microcredit granted.
Microlux added that this development is part of the financial institution’s desire to enable a greater number of people carry out and develop their business project, in the face of a constant increase in the costs associated with the creation and development of businesses.
Sam Paulus, Senior Manager of Microlux, emphasised: "This increase to €50,000 allows us to support microentrepreneurs even more effectively, especially those who need commercial premises to start their business by offering them financial support adapted to the reality of the Luxembourg market."
Microlux concluded by stating that the initiative complements existing systems and confirmed its ongoing commitment to promoting financial and social inclusion through entrepreneurship and contributing to the growth of the local economy.
HOM
