Microlux, the leading microfinance institution in Luxembourg, is validating its mission by becoming a Societal Impact Company (SIS). It’s launching a new call for sponsors to increase its reach.
Since it was set up in 2016, microlux has helped more than 1,000 people who do not have access to traditional bank credit in their business creation projects and has supported 260 entrepreneurs with microcredit, helping to create and sustain 400 jobs.
In 2023, the microfinance institution saw a 10% increase in project applicants, a further testament to the institution’s importance in supporting local entrepreneurship.
As such, microlux has more than validated its commitment to the principles of the social economy. Under its new label, the institution’s share capital is made up of 100% impact shares, guaranteeing the reinvestment of any profits in maintaining and the continuity of its activities.
Obtaining SIS accreditation is a major step for microlux, requiring a new call for sponsors in order to multiply its impact and improve the living conditions of the population.
