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HomeNews34 social entrepreneurs and NGOs have already chosen to become stakeholders of AFIN IFN SA. The amount engaged is getting close to 100.000 de euro.

34 social entrepreneurs and NGOs have already chosen to become stakeholders of AFIN IFN SA. The amount engaged is getting close to 100.000 de euro.

After less than a month since having launched the applications for getting involved in the establishment of AFIN IFN SA, over 30 individuals and juridical entities have sent their engagement letters, this way stating their official intent to become stakeholders in the financial institution. The amount engaged so far is getting close to 100.000 Euro.

Tens of social entrepreneurs, NGOs and individuals have already subscribed to the idea of getting involved in the establishment of AFIN IFN SA, the first non-banking financial institution with Romanian capital meant exclusively for social economy entities. In middle October, the consortium made up of the “Alaturi de Voi” Romania Foundation, FEBEA – the European Federation of Ethical and Alternatives Banks and Financiers and Patria Credit IFN launched the subscriptions for participating in the establishment of AFIN IFN SA.

During an online eventthe initiators of AFIN presented the mission statement of the organization, to support social entrepreneurs with a vision with alternative financial instruments, adapted to their needs. The institution will be capable of a comprehensive analysis, taking into consideration the economic and financial capacity of the project and social impact indicators, specific to social economy entities.

AFIN will offer alternative financial solutions and efficient support to entities in the field of social economy through flexible and accessible loan instruments (loans for work capital, loans for investments, bridge loans for co-financing on European funds, etc.).

The entire project will also benefit of support from the Social Finance Association , who will manage the financial aspect of AFIN with specialized assistance and know-how. The association will support entrepreneurs through financial education, consultancy for ease of access to financing or even through non-reimbursable grants.

A long – term project

AFIN IFN SA will function in Iasi and aims at answering a severe need of the market: to ensure the access to financing for economic entities with social impact from Romania, who need financing to grow.

The appearance of AFIN IFN SA on the Romanian market comes as an opportunity from European level, where the social economy sector is better developed and already has consolidated financial solutions. AFIN will bring together the experiences of organizations and individuals having proved throughout time that the projects they get involved in are valuable and reach their objectives.

AFIN IFN SA will be officially established in April 2022, with a minimum opening capital of 200.000 Euro and the contribution of at least 100 stakeholders. Later on, the increase in capital will be corelated with an increase in the loan portfolio correlated with market performances. The minimum amount to become stakeholder in AFIN is 1.500 lei. The first loans will be granted starting with July 2022 and it is estimated that at least 25 loans will be granted during the first year of activity, reaching 170 loans in the fifth year.

What do the investors say?

The project convinced entrepreneurs, NGO leaders and individual believing in the AFIN mission statement to support social enterprises in their development and for the positive impact in the community.

"I am confident that this project will be a success, especially since social entrepreneurs and NGOs providing social services are in great need of funding for the projects they implement. AFIN IFN SA will be an extremely important pillar of support for the development of the social services sector in Romania, and I chose to become a shareholder both from the conviction that it will become a profitable long-term investment and from the faith in its social mission", said Mariana Lăcrămioara Oancea, social worker.

AFIN will create an essential mechanism that will put in place an integrated system of specialized assistance for the field of social economy.

"I chose to invest in AFIN because I want to support the development of the social economy sector. I am convinced that the alternative financial solutions offered by AFIN will help many social enterprises to develop and bring a greater positive impact in the local communities ", says Victor Ciubotaru, Co-founder of Digitalgoal

Why invest in AFIN?
  • You become an investor in a solid financial institution that will operate in the long run, whose market value will increase over time, including through the value of shares
  • You become part of a network in which you will have access to information and financing opportunities, partnerships and know-how, provided both through the AFIN platform and through SFA SFA
  • You become part of an ambitious project, which supports the development of the social economy in Romania, a sector in which you can also become an actor and maybe even benefit from financial services
  • Make a social investment, through which you will support social entrepreneurs, whose mission is to create a fair and honest society, in which no one is left behind
  • You invest in a financial institution created by social entrepreneurs, for social entrepreneurs
  • You benefit from recognition and appreciation in the community

If you want to learn more about how to become AFIN stakeholder, which are the necessary conditions and documents, please access directly the section INVEST.