Cuatrecasas Acelera and MicroBank sign agreement to promote innovative startup businesses

February 5, 2019

Senior partner at Cuatrecasas, Rafael Fontana; chair of MicroBank, Antonio Vila; and CaixaBank’s regional director in Barcelona, María Alsina
Senior partner at Cuatrecasas, Rafael Fontana; chair of MicroBank, Antonio Vila; and CaixaBank’s regional director in Barcelona, María Alsina
  • The agreement between Cuatrecasas Acelera and MicroBank, aimed at promoting job creation, will enable entrepreneurs to access financing to create and promote innovative business projects.
  • MicroBank is the only bank in Spain focusing exclusively on financing business projects and personal needs through microloans.

Senior partner at Cuatrecasas, Rafael Fontana; chair of MicroBank, Antonio Vila; and CaixaBank’s regional director in Barcelona, María Alsina signed the agreement for facilitating the financing of innovative business projects through microloans. Beneficiaries will be self-employed individuals and microbusinesses with less than 10 employees and an annual turnover of less than €2 million.

Applicants can request microloans of up to €50,000 (with a limit of 80% of the investment). The projects must have a business plan and a positive viability report prepared by Cuatrecasas Acelera.

MicroBank’s criteria for granting microloans are based on the project’s viability and on the report by Cuatrecasas Acelera about the project and the entrepreneur’s abilities and knowledge; this enables individuals without the backing of guarantees or security to access the financing.

Under this agreement, Cuatrecasas Acelera commits to detecting financing needs, thus promoting entrepreneurship and establishing, consolidating and expanding microbusinesses and the businesses of self-employed individuals; facilitating support and business advisory services; analyzing project viability; and remitting the individuals and companies it advises to MicroBank, so it can analyze, and possibly approve, the financing applications.

Cuatrecasas Acelera is an accelerator program for technological business initiatives in the legaltech sector or that are legally complex; its activity contributes value, innovation and a differentiating element for Cuatrecasas, its clients and the entrepreneurial ecosystem.

Cuatrecasas Acelera is holding its third edition together with Telefónica Open Future, Stepone Ventures and Alastria, the Spanish multisectoral consortium providing a semi-public blockchain infrastructure.

MicroBank, the social bank specializing in microfinance owned by CaixaBank, is the only Spanish bank that finances projects through microloans exclusively. It was a pioneer in its business model and continues to be the institution that channels the most resources into the financing of projects through microloans. It offers microloans to self-employed individuals, entrepreneurs and microbusinesses; and individuals and families, enabling them to receive means to overcome a difficult period and facilitate personal and family development.

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