MicroBank microcredits help create 279 jobs in Aragon in 2015

Image result for microbankZARAGOZA, 21 (EUROPA PRESS)

The financing granted by MicroBank, the social bank fully participated by CaixaBank, has contributed to the creation of 279 jobs in Aragón in 2015, according to a report by the Institute of Social Innovation of the ESADE business school, on the initiative of the financial entity.

For the whole of Spain, the figure reaches 21,321 jobs in the past year. Since its founding in 2007, MicroBank’s support through small loans has been a “key” piece for the generation of 155,000 jobs, with a significant impact on the welfare of families and economic growth.

The Report on the impact of micro-loans, based on a survey among MicroBank loan recipients for the sixth consecutive year, shows that one of the main conclusions of this type of credit has been the creation of jobs in both processes of setting up new businesses, as well as the expansion of existing ones.

In fact, 93 percent of the financed entrepreneurs continue to work in their own business and 29 percent have hired a worker since the granting of the microcredit, CaixaBank detailed in a press release.

The entity has stressed that 43 percent of entrepreneurs say they plan to hire a worker in the next 12 months. In these cases, the expectation is to incorporate two employees on average per microenterprise.


Microcredits are one of the main instruments to facilitate access to credit, as reflected in the fact that 50 percent of respondents say they could not have opened or expanded their business without having a microcredit. Another 27 percent believe that they could have done it, but with many difficulties.

In addition, the income generated by a microenterprise is the main source of remuneration for a person in 30 percent of cases, while it is for two people in 27 percent of business initiatives. These figures highlight the importance of business success not only for the entrepreneur but also for their immediate environment.

In 30 percent of the cases, the contribution of the entrepreneur’s income to the family budget is higher than 75 percent, while in another 29 percent it represents between 50 and 75 percent. Only in 14 percent of the initiatives does this contribution represent less than 25 percent of the family budget.

Entrepreneurship by necessity (that is, those people who want to open their own business because they do not have a better option in the labor market) represents 20 percent of the beneficiaries of a MicroBank loan to set up a microenterprise in 2015. It is of entrepreneurs who either did not have a job or were afraid of losing it.



People who have requested a loan are optimistic about their future. 70 percent believe that their business will grow fairly or moderately in the coming months, while 26 percent say it will remain stable; and only 1 percent predicts that sales will fall and that it should close.

Based on the current development of the company, 57 percent say it works well and 12 percent believe it is going very well. In addition, a majority percentage of those who have expanded an existing business say that their business is better than the previous year and only 6 percent say it is worse.

Entrepreneurs are convinced that opening their own business allows them to face new challenges and develop new professional skills, although 92 percent say they are aware that it implies more dedication and less security and stability than a salaried job.


The analysis of the survey carried out by ESADE shows that 67 percent of the microcredits awarded in 2015 have been used to expand an existing business, while the other 33 percent has served to launch new initiatives.

72 percent of the companies do not have their own legal form and those that lead them are autonomous. The limited company is the most common legal form, with 21 percent of the cases, while the rest obtains very residual percentages.

Most of the businesses created have a single owner (72 percent) or two (22 percent), which highlights the preponderance of the self-employed.

CaixaBank has pointed out that an important chapter is that referring to the sector chosen by the beneficiaries of the microcredits to develop their activity. 48 percent of the businesses are part of the professional services chapter, followed by retail, with 29 percent, and the hotel and restaurant industry. Those that are related to new technologies slightly increase compared to previous years (4 percent of the total).

In the section on professional services, there are various activities, from those related to aesthetic centers and hairdressers to law firms, consultancies, taxis, transport companies or photography studios.


Image result for beneficiaryThe analysis of the profile of the entrepreneur helps to complete the vision about the type of client that subscribes a microcredit to finance himself. Men represent 50 percent of the total, compared to 31 percent of women. The other 19 percent are loans granted to legal entities.

The majority group consists of entrepreneurs aged between 36 and 49, who represent 42 percent of the sample, followed by the range between 26 and 35 years, 20 percent of the total. The beneficiary of a Microbank loan has an average of 40 years.

Most of those who have received a microcredit have secondary education (42 percent), followed by those with higher education (32 percent), which have increased with respect to data from previous reports. The proportion of entrepreneurs without studies remains very low and does not exceed 1 percent.

Regarding the geographical origin, as in the previous reports, 75 percent of the total are Spanish. With 17 percent are those from America and 6 percent are from other European countries. Those who have arrived from Asia or Africa barely reach 1 percent.

Some 65 percent of the total already worked as self-employed before granting the microcredit and 19 percent were salaried. The proportion of entrepreneurs from an unemployment situation is 15 percent, a percentage lower than that recorded in previous reports, “a behavior possibly related to economic recovery.”

Fully participated by CaixaBank, MicroBank is the only bank in Spain dedicated exclusively to the financing of projects through microcredits. It offers loans for self-employed workers, entrepreneurs and micro-enterprises; and personal and family microcredits, which aim to meet needs that overcome a temporary difficulty and facilitate personal and family development. In its activity, MicroBank collaborates with 566 social activities throughout Spain.