The call for applications for Marius Jakulis Jason Foundation’s Microcredits program is open from 1st to 31stMarch. Small businesses and social entrepreneurs, Lithuanians and foreign citizens are eligible to apply for business projects to be executed in Lithuania.
MJJ Foundation is seeking to encourage entrepreneurial initiatives in Lithuania and to promote not only competitiveness, economic growth and entrepreneurship but also social integration and financial inclusion.
A microcredit from MJJ Foundation may be received by Lithuanians or foreigners who owns a small businesses or work as social entrepreneurs in Lithuania.
The deadline for application is March 31st, 2023.
The participants eager to participate in this call have to start in April 2023. The microloan provided by the MJJ Foundation is given from six to thirty-six months with an interest rate at 1 proc. + 6 month EURIBOR.
The participants commit to share quaterly follow-up reporting with the Foundation.
Criteria to receive foundation’s support:
The applicant can apply and benefit from a microloan program if:
- is self-employed or already developing a small enterprise or social enterprise here in Lithuania
- had difficulty getting conventional credit for your business idea
- has a clear plan for executing the business aimed to create value in Lithuania
- is ready to collaborate with the representatives of the foundation, to share the relevant financial and other information, to attend events or meetings organised by the foundation for their project development.
Business idea to submit:
- Short summary of the idea, products or services
- Relevance to your town or Lithuania
- Financial plan: budget you need to start and sustain business, 12-36 months incomes and expenditures planning to show potential success to the project and ability to return money and the size of your personal capital.
- Submission: providing information about your business idea.
- Evaluation: after submitting your application, the jury will evaluate it in 1-2 weeks.
- Interview: if your application is shortlisted from the last remaining, you will be called to schedule an interview for further information to complete your application.
- Decision: final decision of the jury.
- Receiving money: if your application has been approved, we will organise a meeting to sign and agreement and will transfer the funding.
- Reporting: during the duration of the project, you will be asked to produce a report providing an overview of your project and its progress.
If you have any questions about the process or conditions of the microcredit program, please write to email@example.com.
You can also apply via email (firstname.lastname@example.org), just make sure you include answers to all the above questions.