Patria Credit in Romania has signed a EUR 8 million loan agreement with the EU, as part of the European Progress Microfinance Facility. The agreement will provide micro-loans of up to EUR 25,000 to support over 2,000 micro-enterprises in Romania. It is the fifth operation and largest loan under the European Progress Microfinance Facility (Progress Microfinance), the European Commission has announced.

Progress Microfinance has a budget of EUR 200 million of funding from the European Commission and the European Investment Bank. It aims to help those who have difficulty accessing credit in particular micro-entrepreneurs and the self-employed. Examples include female entrepreneurs, young entrepreneurs, entrepreneurs belonging to a minority group, entrepreneurs with a disability, sole traders.

Patria Credit is the former Capa Finance, which has recently rebranded. It is owned by the Romanian American Entreprise Fund and the Balkan Accession Fund, which started investing in the company in 2007.

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