The European Commission has recognised Seed Capital Bizkaia Mikro’s compliance with the Code of Good Conduct for Microcredit Provision.

In January and February 2022 Seed Capital Bizkaia Mikro passed the Due Diligence performed by MicroFinanza Rating (MFR) with the objective of analysing the compliance with the requirements to obtain the certificate from the European, a valid certificate for obtaining European financing.

The European Commission, whose management team validates the MFR audit, has recognised the work of Seed Capital Bizkaia Mikro in complying with 125 clauses of the Code of Conduct, which is 95% global compliance. With regards to the priority clauses, Seed Capital Bizkaia Mikro meets 33 of the 33 clauses, which represents 100% compliance.

European Commission Code of Good Conduct for Microcredit Provision

The European Union Code of Good Conduct for Microcredit Provision aims to establish a series of common norms and standards that apply to all the entities that manage microcredits in European territory.

The certification issued by the European Commission assesses the following aspects: relationship with clients and investors, governance, systems for managing monitoring and impact indicators and risk management.

The foral commitment to microfinance

Seed Capital Bizkaia Mikro was promoted by Seed Capital Bizkaia in 2014 with the objective of supporting and strengthening the business fabric in Bizkaia offering alternative finance in the form of microcredits.

Since the beginning Seed Capital Bizkaia Mikro has granted a total of 1,093 loans for the amount of 14,370,650 euro.