Microfinance and Crowdfunding


Microfinance and Crowdfunding

Anyone who invests in Etica Sgr’s “Valori Responsabili” funds can choose to donate 0.1% of their subscribed capital (1 euro for every 1000 invested) towards a guarantee fund managed by Banca Popolare Etica that underwrites microfinance projects in Italy. And since September 2015, this same fund has been used to support Italian crowdfunding initiatives that have a positive social and environmental impact.

Voluntary contribution equal to 0.1% of the investment

Thanks to the part of the fund dedicated to microfinance, Banca Etica can grant loans to:

  • individuals who are facing serious social and economic hardship
  • individuals who would like to start a new business
  • social cooperatives that need to recapitalize

Thanks to the part of the fund dedicated to crowdfunding, Etica Sgr can help finance initiatives promoted by the Banca Etica network because of their positive social and environmental impact. Etica Sgr will make a financial contribution to those projects that have reached 75% of their fundraising goal, until the entire amount allocated for each year of crowdfunding has been disbursed.

Between 2003 (the year the fund was created by Etica Sgr) and the end of 2016, 438 loans were granted, 88 of which in 2016 alone. At year-end 2016 (December 31st), the amount allocated by Banca Popolare Etica for microfinance funding was approximately 1.82 million euros. Out of the 88 loans granted in 2016, 86 were managed directly by Banca Etica, and the other 2 were granted in partnership with the Social Club association and Rione Sanità.

    About 64% of the microfinance loans granted in 2016 led to the development of new businesses, thereby supporting the real economy and strengthening the link between the microeconomy and big business – a link that Etica Sgr has always considered to be of fundamental importance.

Thanks in part to a great number of new clients, Banca Etica will be able to allocate a total of 2.55 million euros in 2017: 2.45 million to underwrite microfinance projects, and 100,000 for crowdfunding initiatives.



Before subscribing, please read the KIIDs and Prospectus available from placing agents

The placement of the "Sistema Etica" funds is only available in Italy. For further information, please refer to the Italian version of the website