Jeremie Funds, Regione Finances Social Policies Too

The call “Jeremie Campania” has been published on the website of the European Investment Fund. The call is open to any public or private bank, or in a consortium with non-profit social or micro-finance organization, to support initiatives of vulnerable people.

Jeremie is a joint initiative of the European Commission and the European Investment Fund, that offers to Member States the chance to use part of the structural funds to enhance the access to funding for small and medium enterprises.

Regione Campania decided to give resources both to the growth support and the competitiveness of the business system of SMEs, and to the activities carried out in the social policy sector.

The current call, approved by the Investment Committee of Regione Campania, addresses social policies.

The allocation is 9 million €; and the same amount will be available for financial brokers who will be selected after the submitted expression of interests.

Resources will be used to supply small and medium enterprises involved in the social sector with loans and capital participation.

The final beneficiaries of the funds will be the social businesses, A and B social cooperatives, as well as single or associated entrepreneurs. Vulnerable groups who could benefit from the available sums, up to a 100 thousand € loan to be repaid over 4 years for the investment, are females, immigrants, disabled people and ex-convicts.

A priority will be given to submissions including orientation, information guidance and tutoring activities for micro-businesses.

The call does not apply to activities related to social housing, vocational training and re-placement, consumable or house goods purchases, and to expenses for damage compensation.

The call will close on 30 September 2011.