MJJ Foundation starts new program for entrepreneurs based in Lithuania and opened call for applications. The foundation established micro-loans for small and social entrepreneurs to support those who are eager to run their business but lack the resources.
The call for applications for MJJ Microloans program is open from 1st to 31st March.
MJJ Foundation is seeking to encourage entrepreneurial initiatives in Lithuania and to promote not only competitiveness, economic growth and entrepreneurship but also social integration and financial inclusion.
"After investing in technological startups, we felt that we would also like to financially encourage small, not necessarily digital businesses, which can potentially create changes in their environment, regions or, for example, empower a foreigner who moved to Lithuania, who could develop an independent business and create a job for himself and others. The opportunity for an entrepreneur to borrow funds on favourable terms in the form of microloans is very popular in the world. Therefore, we want to popularise this format in Lithuania as well, and we will be happy to not only provide finance, but also help with the contacts or professional advice necessary for business development", shares the head of the foundation, Kotryna Stankutė-Jaščemskienė.
Lithuanians and foreigners can borrow up to 12000 EUR with 4% annual interest for the development of their business projects for a period of 6 to 36 months. We invite you to submit applications before March 31.
More information: https://mjjfondas.lt/en/kryptys/business/