Microlux is an organization that provides microcredits and honour loans to financially vulnerable entrepreneurs in Luxembourg. In its six years of operation, Microlux has disbursed over 3 million euros to support more than 200 entrepreneurs.
Despite the economic challenges of 2022, project holders continued to seek Microlux‘ support, demonstrating the entrepreneurial spirit still present in the region. In 2022, collaboration with entrepreneurs led to the granting of 43 microcredits and 17 honour loans for a total of €609,900.
In addition to providing funding, Microlux strengthened its support to entrepreneurs in 2022. The organization now revolves around five pillars, including individual coaching, continuous training, e-learning videos on entrepreneurship, project diagnosis, and promoting entrepreneurs through various communication actions such as the 1st Local Entrepreneur Market. These activities aim to meet the diverse needs of entrepreneurs and help them grow their businesses.
Microlux also benefited from the renewal of trust from the European Investment Fund (EIF) in 2022, with a five-year guarantee contract under the European InvestEU program, covering part of the microcredit portfolio risk. This guarantee allowed Microlux to expand its portfolio of microcredits and honour loans to help more entrepreneurs realize their projects.
The encouraging results of Microlux in its six years of operation are remarkable. With 224 microcredits disbursed to support 200 entrepreneurs and the creation of 280 jobs in Luxembourg, Sam Paulus, Senior Manager of Microlux, expressed his pride in these achievements. These figures testify to the importance of microcredits and honour loans in supporting vulnerable entrepreneurs and promoting entrepreneurship in the region.
For more details, we invite you to consult Microlux’ 2022 activity report.
