Action Finance Initiative (AFI)

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Foundation Year
2014
Country
Greece
Region
Attica
Location

Louizis Riankour 64, 11523 - 10th Floor B3

Athens

Number of members
2
Full-time
6
Part-time
Volunteers
Accept interns
YES
Area of intervention
Social Enterprise
Social Inclusion
Education
Other
Main funding mechanisms
Private donations
Fundraising or Crowdfunding
Sponsorships
Provision of services
Level of impact
Local
Regional
National

AFI provides access to financing, though microcredits, to those who have a business idea or project, but are not able to find access to the necessary funds. At the same time, it supports these businesses by providing free training and support.

Specifically, AFI promotes microcredits in Greece, offering access to micro-loans up to 12,500 euros to potential entrepreneurs independently of their commercial activity, the level of innovation, the investment category and the use of technology.

AFI’s staff, together with our volunteer network offers free, customized business support prior to and after the disbursement of the microloan.

The Right to Economic Initiative requires access to capital and removal of administrative constraints for creating self-employment. By supporting entrepreneurship, AFI promotes self-employment, reduces unemployment and helps beneficiaries to achieve financial independence, so that they can offer socially and financially to the society.

Our geographical coverage includes Attika, Viotia, Evoia, Corinth and Crete.

AFI is a Civil-law Non-Profit Company and its founding partners are ActionAid Hellas and ADIE, a French microcredit institution with over 25 years of experience.

This initiative is neither a grant, nor is it connected with subsidy programs such as OAED or ESPA.

During 2018 our company expands to Thessalonica and Crete, to provide training and access to finance for entrepreneurs and entrepreneurial ideas outside Attica region and the results are more than satisfying.

In 2017 AFI received the Award of the European Code of Good Conduct for Microcredit Provision from the European Commission. AFI is the first institution in Greece, and one of the first in Europe, to receive this award. During the certification process, AFI proved to align with the standards established by the EC in the process of financing small and very small businesses. This award confirms the constant efforts AFI is making with regards to the quality of services and products for our clients.

ΑFI has funded more than 200 companies and created 350 new job positions, from which 44% were unemployed.


Beneficiaries
Unemployed people
Minorities
Individuals with disabilities
Local community
Have you previously hosted an intern? Is it a possibility in your organisation?

Yes and Yes


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Action Finance Initiative (AFI) - Apostolos Stavropoulos business presentation



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