“We created the program to help small businesses that face difficulties in finding affordable financing for their operations. It is designed for businesses for which borrowing in current market conditions is not only very expensive, but often simply impossible,” says Kotryna Stankutė-Jaščemskienė, head of the MJJ Foundation.

The head of the foundation emphasizes that the opportunity for an entrepreneur to borrow funds on favorable terms in the form of a microloan is a highly popular method of supporting entrepreneurship globally, and the MJJ Foundation aims to popularize it in Lithuania as well.

For those seeking financing to expand their business projects, the foundation will provide microloans of up to €12,000 with an annual interest rate of 1% + 6-month EURIBOR. The microloans will be provided for a period ranging from 6 to 36 months, with the flexibility to repay the loan earlier than specified in the contract without any additional fees.

Feedback from Participants in Last Year’s Program

Among the laureates of the foundation’s competition announced last year are Indra and Šarūnas Stulpinas, the founders of “Žvaigždžių slėnis” (Valley of Stars), located near Ukmergė. The entrepreneurs cherish the ambitious goal of turning the 8-hectare plot they purchased a few years ago into the largest nature therapy space in Lithuania. They plan to host various events, camps, and gatherings aimed at restoring a person’s inner balance.

“Participating in the MJJ Foundation’s program allowed us to complete the installation of two out of our four domes. We plan to start operating them this summer. Even though the domes are just a small part of a big vision, this is an incredibly important milestone on our current journey. With this help, we were able to continue our work significantly faster,” says Indra Stulpinienė, co-founder of “Žvaigždžių slėnis.”

The founders of MB “Vertimų pramogos,” a manufacturer of wooden outdoor team games, used the microloan received from the foundation to establish a carpentry workshop equipped with a laser machine. As a result, they can develop new games and fulfill new orders much faster. “The injection from the foundation helped us make up our minds and resolve to fulfill a long-harbored dream. It has become a reality,” shares Irma Savickaitė, one of the founders of the family business.

For Rugilė Butkevičiūtė and Reda Jureliavičiūtė, the founders of the non-profit organization “Ribologija” and winners of last year’s competition, the received loan helped create an e-commerce website. “We are the first social business in Lithuania working on sexual violence prevention. We are delighted that the MJJ Foundation believed in our idea and granted the loan, which allowed us to establish our new virtual home—www.ribologija.lt—and a shop where we can sell products that help spread the message that boundaries are one of the most important things in our lives. This loan helps us move daily from a culture of violence toward a culture of support, creating a society where everyone can live well and safely,” says Rugilė Butkevičiūtė.

The fourth laureate of last year’s competition is Viktorija Nausėdė, a social entrepreneur and the founder of the circular fashion platform “Textale.” Textale is developed as a practical circular fashion platform designed to collect, prepare, resell, repair, renew, and recycle clothing surplus, as well as to promote consumer education. “With the support of the MJJ Foundation, we opened our first physical store in the EUROPA shopping center. This became our calling card: we proved that second-hand fashion can compete with the window displays of new retail stores in terms of style, aesthetics, and quality. When operating in the direction of sustainability and aiming to create long-term change, one often has to run their own marathon, where support is exceptionally critical,” states social business founder Viktorija Nausėdė.

The MJJ Foundation accepts applications on its website all year round. Applications for project financing can be submitted by Lithuanian citizens as well as foreign citizens residing in Lithuania.