Project “ATM for SMEs” starts in Hungary with the scope of improving access to microfinance for small enterprises in the participating regions

In Székesfehérvár, Hungary, with the effective cooperation of the lead partner Fejér Enterprise Agency and the project partners, the “ATM for SMEs” project has officially opened its activity plan. Between 12-13 May 2016, 30 people have joined the kick-off meeting of an important initiative to foster the access to microfinance in the participating regions, through the improvement of the relevant local policies.

The European Union has decided to support the innovative measures to improve SMEs through this project, approved in the framework of the cooperation programme INTERREG EUROPE and financed by the European Regional Development Fund with 1,622 million EURO.

The project title “ATM for SMEs – Access to Microfinance for Small and Medium sized Enterprises” evokes the core idea developed by 10 partners that is to prevent the lack of access to credit and financial exclusion which in fact represent a serious obstacle to business creation in many European regions. 

Microfinancing of SMEs and support to social entrepreneurship is an already tested and proven tool which can contribute to a high level of quality and sustainable employment, reducing disparities and poverty.

Therefore, the “ATM for SMEs” project is aiming at improving the access to microfinance in the participating regions by sharing and exchanging the local knowledge on innovative solutions. 

The "ATM for SME"s consortium is lead by Fejér Enterprise Agency (HU), and is characterized by a balanced proportion of managing authorities and microfinance institutions, and a European level advisory partner.

The intensive interregional policy exchange and learning process, planned in the framework of the project, allows the gathering of evidence on the feasibility of these good practices, and capitalising on the experience accumulated in the participating regions.