MicroBank loans to entrepreneurs help create 474 jobs

The estimate of jobs created with the help of a loan granted by MicroBank, the social bank of ‘la Caixa’, in Aragón in 2014 amounts to 474.

This is one of the data of the report on the impact of microcredits in the labor market, prepared for the fifth consecutive year by the ESADE business school, which highlights MicroBank’s commitment to financing entrepreneurs and micro-enterprises in this period of time, with an annual growth of 35 percent.

In just the first six months of 2015, an estimated 253 job creation in the Community with the support of microcredits.

The study, carried out by the Institute of Social Innovation of ESADE, points out different aspects of interest when analyzing the social importance of this type of instruments.

In the first place, it is verified that if before the crisis the microcredit was essentially aimed at facing situations of social exclusion, progressively its role is gaining weight to promote entrepreneurship and the generation of wealth and employment.

The study, conducted on the basis of a survey of more than 800 clients, reveals that the typical profile of the beneficiary of the microcredit is one man (59 percent of the total), Spanish (83 percent), between 36 and 50 years old (46 percent), with secondary education (42 percent) and who worked as self-employed before starting their own business (44 percent).

24 percent of the total was unemployed before starting their business project. Young entrepreneurs (under 35 years old) continue to be one of the most active groups in the request for micro-credits and they represent 27 percent of the total.

The main reason to face an entrepreneurial project is the economic need, in 30 percent of cases, compared to 28 percent who claim to have seen a clear business opportunity.

One of the most relevant factors in the granting of microcredits is their impact on the generation of new employment opportunities, both through new businesses and by expanding the number of employees in existing companies.

In this sense, the average creation of 1.55 jobs has been estimated for each project financed with this instrument, including the entrepreneur himself. The average number of jobs created by new businesses (including that of the entrepreneur) is 2.1.

Within the group of entrepreneurs that expand a business, the average number of new jobs generated with the help of microcredit is 1.1. In addition, 32 percent of respondents said they plan to expand staff in at least one person in the next 12 months.

Economic remuneration

Economic remuneration

Regarding the economic remuneration, the majority of entrepreneurs surveyed declared annual net income of less than 25,000 euros, with the majority (31 percent of cases) being between 10,000 and 25,000 euros, while another 24 percent was below 10,000 euros and 15 percent get an income of between 25,000 and 50,000 euros per year.

With regard to the business model, 51 percent of microcredits have been used to launch new initiatives and 49 percent to expand existing companies.

It should also be noted that 78 percent of the projects are run by self-employed workers. As regards the sector of activity, the majority is circumscribed in the chapter on professional services and retail trade. On the contrary, only 2 percent are specialized in new technologies.

The data show that microcredit has been a vital instrument for the creation of new business initiatives.

Thus, 58 percent of respondents do not believe that they could have started or expanded their business without them. In 37 percent of the cases, the microcredit covered one hundred percent of the initial investment, and in another 11 percent, it represented more than 75 percent.

46 percent of the entrepreneurs state that their current economic situation is better than they would have without having been beneficiaries of a microcredit.

In addition, three quarters feel more confident in their abilities as entrepreneurs or entrepreneurs, more independent, with more control over their lives and with more confidence in the future.

It is therefore clear that microcredit is also positive in aspects such as family life and integration in the community itself.



The report places special emphasis on entrepreneurship carried out by women. In this sense, the profile presents features similar to those of men, although the percentage of women who access entrepreneurship due to their difficulties to reach the end of the month is much higher and they are more frequently focused on the services and on trade.

As a general rule, projects promoted by men are somewhat larger than those directed by women and, as a result, they have more capacity for growth and job creation.

Another aspect that presents differences with respect to entrepreneurship carried out by men is that which refers to the employer’s previous work situation.

Thus, while men worked mostly as self-employed (in 51 percent of cases), in women the proportion drops to 33 percent.

The number of women who come from a situation of unemployment is much higher than that of men: 35 percent compared to 23 percent, which shows that for many women starting their own business is one of the few outings professionals at your fingertips.


MicroBank, the social bank of ‘la Caixa’ specialized in microfinance, is the only bank in Spain dedicated exclusively to the financing of projects through microcredits. The entity was a pioneer in its business model and continues to be the one that allocates the most resources to finance initiatives through microcredits.

During 2014, MicroBank has granted a total of 82,586 loans http://www.llamero.net/learning-the-basics-of-stock-exchange-investing-through-penny-stocks.html for an amount of 434.4 million euros and has helped to create or consolidate, since its creation in 2007, more than 134,000 jobs.

MicroBank has made 306 microloans to entrepreneurs in Aragon during the past year, for an amount of 3.5 million euros, while in the first half of 2015 the number of loans for this group amounts to 163, with an investment of 1, 5 million euros.

Caution Crowdinvesting: Loss is more likely than profit

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news Caution Crowdinvesting: Loss is more likely than profit finanzen.de News always well informed Monday, 06.06.16 , written by Cora Christine Döhn Even more experienced investors are looking for new ways to increase their money in the low-interest phase. Crowdinvesting seems to many as an interesting option. But be careful here. In an interview with finanzen.de, Anne-Katrin Maier of crowdfunding investors explains what dangers threaten and what investors must pay attention to. > Anne-Katrin Maier im Interview Anne-Katrin Maier is a crowdinvesting expert for crowdfunding investors

The ongoing period of low interest rates is forcing investors to rethink. When choosing a suitable investment, the focus is increasingly on innovations in the investment universe . We're talking about crowdinvesting. Here, investors invest in a startup that they consider promising. Anyone venturing such an investment must be aware, however, that the promised return will be achieved only by a small proportion of companies. Bigger is the likelihood of the startup's failure and thus the complete loss of the investment, admonishes Anne-Katrin Maier. Crowdinvesting is therefore part of very risky assets that should not be underestimated.

What are the risks associated with crowd investing via so-called subordinate loan arrangements?

Anne-Katrin Maier: Participating in the development of startups with a shareholder subordinated loan is a great thing at first. Investors join the founders, spread their ideas, generate revenue, and are a regular part of young success stories. But it's not all gold that glitters: investors must be aware before investing that their money is exposed to several risks:

  • Instead of annual interest, investors get the right to part of a later value, such as turnover or profit. But you only get that share for the year in which you cancel the contract, the startup terminates the contract or if an exit takes place. What this value actually is in five or seven years is hard to predict at the time of the investment. By the way, startups often value optimism here. Investors always make a bet on a future value.
  • Even if investors knew that they would win the bet , risks accumulate over time that threaten returns. This starts with the possibly far too high valuation of the startup in the funding, which leads to a direct reduction of the participation of the investors. There is also the possibility of dilution of the shares or unfavorable buy-outs by financially strong venture capital firms. Furthermore, the young company could restructure over time, separating the unprofitable (crowdfunded!) From the profitable businesses.
  • In addition, there is a fairly high risk that the startup simply fails and crowdfunding investors are served by the subordination only as penultimate or even last out of the bankruptcy estate.

Are there other forms of equity investment in crowd investing than subordinate subordinated loans? If so, what are the risks for investors?

Anne-Katrin Maier: The subordination is what characterizes crowdinvesting. In addition to the shareholder subordinated loan, there is also participation in this type of crowdfunding via subordinated loans, without the shareholder law. There, the investment amount is fixed interest, but in the case of insolvency but the subordination agreed. This form of crowd investing is currently very popular in real estate crowdfunding. It is popular with investors because interest rates are quite good , with comparatively short maturities.

It can be problematic here if the project runs badly or even fails . The interest has been agreed, but the subordination prevents investors from insisting on the payout, if the company would slip into bankruptcy.

In order to prevent the worst case of insolvency, investors in the Investment Information Bulletin could consider whether it is a simple or a qualified subordination. In the case of simple subordination, the investor is served in the event of insolvency before the equity investors, in the case of the qualified person together with them.

If the subordination is too uncertain, you can also resort to another crowdfunding alternative, crowd lending. There the rank resignation does not matter. In the case of non-payment, a debt collection company takes care of the settlement, in the case of bankruptcy, the investor is treated equally with the other creditors from the bankrupt estate.

Crowdinvesting briefly explained

If Crowdinvesting is completely new, you can find out about the advantages, disadvantages and requirements here.

What do you think is the likelihood that a crowdfunding startup will make a return?

Anne-Katrin Maier: The rule of thumb of professional investors says that 7 out of 10 startups fail, 2 muddle through and only one is really successful. Every investor sees this a little differently, but in principle the failure is much more likely than the success. For investors in individual projects, this means they are more likely to lose their money than to make an investment profit with it.

But if one out of every 10 startups involved early on is really successful, then the leverage can be great. But the startup must go right through the ceiling like a rocket and compensate for all losses of the seven failed startups in the portfolio.

What tips do you have for retail investors who would like to supplement their investment portfolio with one or more crowdinvestings?

Anne-Katrin Maier:

  • Only invest money that you can afford to lose. You are here taking bets that have a certain potential but also considerable risk.
  • Spread your money as best you can: on different crowdfunding types and multiple projects. This increases the total return of your portfolio.
  • Stay critical: Can you agree with what's in the project description? For example, can a company that wants to offer yoga classes really be worth six million euros before the first euro turnover?

Under what circumstances does it even make sense for retail investors to invest in crowdinvesting? Do you generally advise retail investors to invest in crowdfunding?

Anne-Katrin Maier: No, crowdfunding can be interesting for every investor. The question that investors should ask themselves, particularly with subordinated subordinated loans from startups, is: How much risk do I want to have in my investment? How much loss of my savings could I endure? Only this money should flow into partiary subordinated loans from startups.

In my opinion, the optimal attitude to crowdinvesting with subordinate subordinate loans is to support only selected startups, because they are considered supportive, and not because they see a great chance of winning. Only then does the investment develop its charm. Because when you are on board with such an attitude as a crowd investor, you experience the early years of startups very differently. You are emotionally connected, happy about successes, hoping for the big litter, but also not devastated if it does not work out.

Thank you for the interview, Ms. Maier.


Cora Christine Döhn

editorial staff

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Thursday, 20.07.17 , written by Anja Schlicht At € 5,676 billion, the Bundesbank estimates the financial assets of private households in Germany. This makes the citizens rich as never before. Around 2,136 billion euros are dormant in insurance and pension funds. In view of this sum, it is not surprising that 

 Sparverhalten der Deutschen: Konsum weniger wichtig

Retire money for retirement is saving motive number 1

For the 60th time, the Association of Private Building Societies surveyed more than 2,000 citizens on their savings motives. While most recently, they had most likely spent money on consumer goods, the Germans now seem to focus more on their retirement planning . Because the saving motive consumption loses with the most recent questioning seven percentage points and takes with 54 per cent of the entries only place 2 in the survey. Saving for old-age provision , on the other hand, remains stable at 58 percent, making it the number one savings target again.

Save for rent-free living in old age

“At a purposeful Vorsparen no way around, one wants to fall later not in a debt case”, comments the chairman of the federation, Andreas J. Zehnder, the results to the current saving behavior of the Germans. He also refers to the growing interest of respondents to put money for home ownership on the high edge . This savings target ranks third with 46 percent of entries and has gained four percentage points compared to the previous survey. Zehnder sees the recent debates about the future of pensions as a cause that have “raised the awareness of rented housing in old age among the citizens”.

Place 4 occupies the capital investment with 27 percent. Many uncertainties due to the financial crisis are still noticeable here. Ten years ago, 44 ​​percent of respondents named the investment as a savings target. With three percent each, the Sparmotive nest egg and training of children for the Germans are relatively unimportant.

finanzen.de Tip: Citizens’ interest in saving for their retirement is unbroken. Use existing contacts and hook up with the retirement planning of your existing customers. The fastest way to new customers, however, is about us and the acquisition of our high quality retirement savings leads.

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Bauspar contract 2017: BHW is triple test winner


finanzen.de News always well informed

Bauspar contract 2017: BHW is triple test winner

The Bauspar contract comparison 2017 helps future homeowners to find a cheap deal. After all, those who do not compare will end up paying too much for the home savings contract, regardless of which form of building savings is decided on. Homeowners, who are already close to a follow-up financing, should, however, hurry to secure best terms.

Bausparvertrag Vergleich 2017: Mit der besten Variante zum Eigenheim
Bauspar contract 2017: Avoid high cost differences

In the current Bauspar contract 2017 Comparison of Focus-Money, the experts examined which building societies in times of low interest rates can offer the best conditions (Issue 3/2017). The decision for one or the other building society may end up costing the future property owner several thousand or even ten thousand euros .

In comparison, the experts examined classic, flexible and interest-free building savings as well as state-subsidized homeowners’ pensions, also known as Wohnriester. Already in 2016 there was a similar test of Focus-Money. The test winners have hardly changed .

Tip: You want to buy or build your dream property, but are unsure what the best way to mortgage your home is? With a free offer for mortgage lending you will learn more about your options.

Bauspar contract 2017: BHW can convince overall

The Bauspar contract 2017 shows that there are now different ways to home. Because in addition to the classic Bauspar contract, the building societies offer alternative options, such as flexible or interest-saving building savings . In addition, there is the state-subsidized Wohnriester. Before anyone can sign a contract, they should first be aware of which option is best for them. On the other hand, it is advisable to consider other real estate financing. After all, the interest on home savings and savings contracts is currently not very attractive.

Depending on the type of Bauspar saving and the amount of Bauspar volume result in the end high cost differences. The deciding factors in addition to the closing fees are above all the credit interest in the accumulation phase and the loan interest rate in the repayment phase. As in the previous year, BHW can assert itself as a test winner in the categories of classic and flexible home savings as well as homeowners. Focus-Money has also tested the Zinsssere Bauspar variant this year. Here Wüstenrot convinces with the best result .

Top 3 in the Bauspar contract 2017 (for classic Bauspar)

  1. BHW Bausparkasse AG – Tariff WB +
  2. Deutsche Bank Bauspar AG – WohnBausparen Plus FX2
  3. Old Leipzig Bauspar AG – AL Baufinanz 2.5

Service: Ask for a non-binding offer for the Bauspar contract and find out which building society can offer you the best conditions.

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Best Bauspar contracts for modernization measures

Once the house has been built or bought, renovations are often necessary over the years. These can also finance owners with the help of a home savings contract. Which providers offer the best financial advantages compared to a bank savings plan or a bank savings loan, Stiftung Warentest already in mid-2016 examined.

Based on three model cases, which provide for a different financing period (4, 6 and 8 years) and a different total payment (15,000 euros, 30,000 euros and 50,000 euros), it can be seen that home savings savers can save more than 2,400 euros. Bausparkasse Mainz (MaxDirekt F), Alte Leipziger (AL-Baufinanz 2.5) and BHW (Wohnbausparen Plus FX2) offer the biggest advantage in terms of financing for the model cases.

Forward Loans: Ensure favorable interest rates for follow-up financing

With the Bauspar contract comparison future property owners learn how they can save high costs. But even people who have already bought a house or apartment and repay their loan, can benefit from the current good interest rates . Finally, a follow-up loan can be used to cheaply repay an existing loan after the fixed interest period.

However, as the interest rate landscape may change over the next few years and loan interest rates may rise again, it is recommended for those who plan on a follow -up loan soon or in a few years to consider a so-called forward loan . Thus, a borrower completes a follow-up financing in advance. Even if interest rates rise sharply in the meantime, interest rates agreed at the time of conclusion apply. The longer a forward loan is completed in advance, the higher the interest premiums on today’s interest rates. Possible is a lead time of 36 to 60 months .

Which providers stand out with very good conditions , has also Focus-Money (4/2017) examined in the current forward loan comparison. Five companies get an excellent rating: Commerzbank, ERGO Group, ING-DiBa, LVM Financial Services / Augsburger Aktienbank and Zurich Deutscher Herold Lebensversicherung.


Wednesday, 22.08.12 , written by editor Data theft is not a trivial offense. As the insurer Allianz found this week, complete security seems almost an illusion. A former investigator released various

Privatdetektiv verursacht schweres Datenleck bei der Allianz

In the form of an anonymous letter, a flood of data reached the editors of Spiegel-Online earlier this week. The content was explosive, internal investigation files from Europe’s largest insurer – the Alliance. These confidential files included: police and prosecutorial investigation files, testimonies, bank accounts about accounts and their authorized persons. The documents are predominantly related to insurance claims of the Allianz Group, as the company confirmed to Spiegel-Online. All of these data, Allianz assures to the online newspaper, belong to a single private investigator. This “criminal single action” appears to be a personal act of revenge and resulted from the fact that the detective and the company had parted company in the beginning of 2012 – more details are not known so far. In addition to the embarrassment of the apparently almost problem-free legal accessibility of such data, in this case it is above all the amount of collected information that is surprising.

Brisk data content

A thorough investigation of insurance claims is in the interest of the customers. Contributions must not rise inexorably due to intentional fraud. Insurance companies have to investigate acute suspected cases. In such investigations, in the case of “firm fraud”, insurance companies often consult detectives for documentary checks. According to a study carried out by GfK Finanzmarktforschung on behalf of the German Insurance Association (GDV), four percent of the households interviewed for the study openly admitted having committed insurance fraud in the past five years. Another seven percent say they have already experienced fraud in their immediate environment. The potential damage to the honest customer therefore certainly causes a certain amount of effort in determining such property damage. However, the relevant data security in connection with such investigations is critical. The case of the Alliance shows that the state of complete security is like a fight against windmills.

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One among many

The insurer is not the only large corporation that has suffered from such publications in the recent past. But the method is not always the same. For example, in 2011, the Internet service Twitter lost passwords and usernames of approximately 35,000 Twitter accounts by publishing hackers online. Also, the food discounter REWE was exposed to some unwanted attention, as last year Unknown published a text document with over 52,000 records on the Web. The content: the e-mail address and associated passwords of consumers. Also Neckermann.de has recently become the target of a hacker attack. At the beginning of last year, the attackers copied the data of about 1.2 million raffle participants. In the case of the Alliance, however, shows that such critical data loss does not necessarily come from “outside”. This detective probably did not return the documents. This announced meanwhile opposite mirror on-line further disclosures.

  • written by Christoph Sebastian Nicolae
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Tax Tips: Save taxes by the end of the year

Sunday, 03.12.17 , written by Anja Schlicht By the end of the year, consumers can still save taxes by spending their money at the right time. Stiftung Warentest is currently drawing attention to this (Finanztest 12/2017). For example, employees may already pay a 2018 upcoming training to claim expenses as income-related expenses in the 2017 tax return. >  With the right expenses tax can be saved for 2017

  • Depending on their income, taxpayers can now secure tax savings of more than € 1,300.
  • This is possible by additional expenses over the advertising costs and 36-euro special expenditure lump sum, so Stiftung Warentest.
  • If the tax office stands in the acknowledgment of the expenditures transversely, the module Steuer-Rechtsschutz of your legal expenses insurance helps you.

With a few tax tips, consumers can now reduce their tax burden for this year . The prerequisite is that they have already exhausted existing lump sums, such as the flat-rate advertising allowance of € 1,000, through different expenses. As Stiftung Warentest calculates, the savings can add up to more than 1,300 euros , if the taxable income at 60,000 euros per year and beyond the flat-rate expenses are 3,000 euros.

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Prefer expenses and optimize taxes for 2017

For example, employees can save on taxes by paying for training courses due in 2018, or at least paying a partial payment later this year. The amount can then be deducted in the tax return 2017 as income-related expenses, as long as the bill was settled in that year.

Similarly, the tax deduction works for craftsmen . The tax office takes into account up to € 6,000 a year, paid by taxpayers to craftsmen for wages, travel and machinery. For example, if a renovation is planned in the spring of 2018, consumers can now make a down payment in order to use the full tax deduction.

Another tax tip is donations . “Expenditure to promote benevolent, church, religious or charitable purposes can be sold as special expenses, even with donations to other EU countries,” says Stiftung Warentest. A donation receipt is necessary starting from amounts of 200 euros and more.

Here are tips and more information about the investment. >

Anja Schlicht

editorial staff

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Mortgage lending: Five tips advisors should give their clients

Thursday, 21.09.17 , written by Anja Schlicht Future homeowners take a lot of money for their dream home. Often, the credit is in the six-digit range. Some mistakes, however, make construction financing much more expensive. But with the right tips, consultants can warn their customers of pitfalls and make a name for themselves as a competent partner. >

Fehler bei der Baufinanzierung vermeiden The dream of owning a home is shared by many people

While savers are suffering from the low interest rate phase, this ensures that borrowers enjoy their loans thanks to very favorable interest rates. Many people are now choosing mortgages to help them build or buy their own house. However, future homeowners do not seldom fall into stumbling blocks . In the worst case, this leads to the dream of your own home breaking and you are sitting on a huge mountain of debt. Which expensive mistakes can happen with the mortgage lending , is summarized in the current financial test magazine (10/2017).

High repayment and long term agreement

Thanks to the low interest rates, borrowers can also borrow more money. At the same time, however, if they set a low repayment, for example, of one percent, the loan has only been repaid in decades. However, it is advisable to make the financial burden of the loan as short as possible. Because no one can say how interest rates will develop in the future. Therefore, a high repayment of two to three percent makes sense to be relatively quickly debt-free.

In addition, the earliest possible interest rate commitment is recommended. Only then can borrowers secure the good interest rates for the next 20 or 30 years. A look at state subsidies for building or buying a house can not hurt either.

Consider additional financial burden due to additional costs

Among the important questions that future homeowners should ask before completing a mortgage, which counts on the additional costs . Expenditure on land transfer tax, notary, land register entry and brokers can account for more than ten percent of the purchase price. If these costs are not taken into account, the financing plan gets cracked right at the beginning.

Last but not least, many borrowers are surprised by additional costs due to so-called provisioning rates. These are incurred if they do not call the loan in one fell swoop, but in stages depending on the construction progress. On average, the interest on the money the bank withholds is three percent. Therefore, it should be clarified in advance with the financial institution, as of which point the provisioning interest accrues.

finanzen.de Tip: Point your customers to possible pitfalls in their mortgage lending. In this way, you can profile yourself as a competent contact person trusted by customers. Are you looking for new customers interested in consulting? Then purchase our cheap leads in the Construction Mortgage division and expand your customer base.

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