Microcredits with great demand
Microcredits fill a gap in the credit system. The GO! Ziel selbstständig association arranges such financing for the establishment or expansion of a company. More than half of these start-up loans, which do not require a business plan or standard bank collateral, go to women.
Those who have a bright idea for self-employment, but not enough financial resources to implement it, are increasingly turning to associations such as GO! Ziel selbstständig. Organizations like these provide access to a microloan for setting up their own business. Even those who are already self-employed can apply for an investment loan from GO! Since the association was founded in 2009, such microloans have been granted to 247 people. More than half of the microloans disbursed went to women.
Microcredits as start-up aid
People who are not creditworthy enough for financial institutions and who do not fit the classic image are also at the right address at GO! 26 percent of all borrowers were previously unemployed or unemployable and were able to be reintegrated into the labor market with support from GO! 87 percent of all companies founded are still active today. The repayment rate is 95 percent. "The demand for microloans is constantly high," says Ruedi Winkler, President of the Board of Directors of GO! "Our business model, the mediation of microloans, is unique. Every day we receive new requests with business ideas. Many of them are looking for financial support, as they cannot get financing through a financial institution and are also not eligible for crowdlending platforms. By brokering microloans, we close a gap in the credit or investment market and thus set ourselves apart from the numerous advisory centers that provide information but do not provide financing. Our mentors, who all support borrowers voluntarily and free of charge, are an important part of our offering," explains Ruedi Winkler.
Record allocation in 2017
Never before have so many business ideas been submitted for review as in the current year. Since the start of business in 2009, the amount of loans disbursed has also increased annually. This year, a new record was set with a total of CHF 1.1 million in loans disbursed.