The GO! association granted 45 microcredits last year, with an average 26,000 Swiss francs distributed per person. This means that not only the number of loans granted but also the amount disbursed – 1.17 million francs – reached new highs.
Since the association was launched in 2009, it has approved 253 microcredits in the Zurich economic region, amounting to a total of around 5.6 million francs in loans.
The number of business dossiers submitted also reached a high point in 2017, with 220 business ideas reviewed.
“In contrast to previous years, GO! experienced uninterrupted, strong demand throughout the entire year. Job seekers also benefit from this growth, as every other newly founded company in turn employs people and creates more jobs,” said Ruedi Winkler of GO!
GO! awards startup or expansion financing of up to 40,000 francs to applicants – without the need for the usual bank collateral. The non-profit organization is supported by the city of Zurich, the canton of Zurich lottery fund, as well as Migros Culture Percentage and other sponsors. Its partner bank is Zürcher Kantonalbank.
The interest rate for microcredits was lowered on 8 January 2018 from 6.5 per cent to 5.75 per cent.
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