About Us

Vision

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.

Why we differ

The Team

Anastasia Tsiloglou

General Manager

MBA, Cornell University

Work experience: Microsoft, pamediakopes.gr, Médecins Sans Frontières, British Petroleum, Tellas. Experienced in: Finance, business planning, product development, product management. She has lived and worked in 3 continents.

Marisa Antonopoulou

Business Development Manager

Philosophy and Economics at the University of Bristol, Chartered Certified Accountant

Work experience: PwC, Navios, Haagen Dazs, Model United Nations. Skilled in: Shipping, finance, business planning, auditing, small business development. She has lived in the UK, Greece and South Africa.

Dimitris Simos

Microcredit Development Officer - Athens

Economics at AUEB, Master in Finance στο Tilburg University

Work Experience: Construction sector- credit control. Experienced in: Corporate finance, entrepreneurial finance, business planning, small business development. Distinction in Dutch competition : New product-Business planning.

Thanos Mondanos

Microcredit Development Officer - Athens

BSc Accounting and Finance, London School of Economics (LSE), MSc Global Banking and Finance in European Business School London (EBSL)

Work experience: UBS AG, Bloomberg LP, Millennium Bank Expertise in: banking, retail, business planning, accounting, finance, start-up development, entrepreneurship, business development. He has lived and worked for 12 yers in London, UK.

Elena Farini

North Greece Branch Manager

Business Administration in Economic University of Athens & IFRS Diploma (Association of International Accountants)

Work experience: KPMG, Alumil, Τechnological Educational Institution of Thessaloniki, Center for Democracy & Renciliation in SE Europe (CDRSEE) Experienced in: Finance, Accounting, Tax audit, Tax consulting, IFRS, Reporting, Business Planning

Pavlos-George Antonoglou

Microcredit Development Officer - Thessaloniki

MSc, Financial Management and International Accounting, Henley Business School - International Capital Markets Association Centre.

Work experience: Eurobank SA, Fidelity Investments, Guardian Trust Financial Services SA, Family Office Services Pte Ltd, DNA Wealth Concierge Lda Experienced in: Investment Banking, Active and Passive Wealth Management, Fiduciary Services, Corporate Finance, Corporate Structuring, SME’s business planning. He has lived and worked in Greece, Malta, Portugal and Singapore.

Contributors

AFI operates independently and our work would not have been possible if it weren’t for the support and donations of our contributors.

The amounts for the micro-loans are secured by private donors.

Bank Partner

AFI is a Civil-law Non-Profit Company. According to the bank law in Greece (3601/2007), we are obliged to cooperate with a financial institution in order to be able to disburse the loans to fund its beneficiaries.

Our banking partners are Eurobank and Pancretan Cooperative Bank (PCB), through which we are able to disburse micro-loans of amounts up to 12.500 euros to new or existing micro-enterprises.

The annual interest rate depends on the quarterly Euribor and at date is 7,1% for investment loans and 7.6% for working capital loans (as of December 2017). The repayment of the loan can take up to 48 months, with a maximum grace period of 3 months (up to 6 for agricultural production projects).

The cooperation model is such that AFI is responsible for the preselection, training and mentoring of existing and new entrepreneurs, while  Eurobank and PCB are responsible for the credit check and disbursement of the microloans.

Due to the cooperative nature of the PCB, each beneficiary is obliged to purchase PCB shares of 40 EUR value, in order for him/her to be considered a member of the cooperation.

Field Partners

AFI cooperates with of the Non for profit organizations, educational institutions and other organizations who share the same vision of supporting entrepreneurship at all levels. Namely some:

The People's Trust

The People’s Trust is a privately-funded initiative operating as a Not-for- Profit in Greece that supports start-ups and small, existing businesses by offering them business development services and micro-funding in the form of a grant.

Venture Garden

Venture Garden is a joint project of the ALBA Graduate Business School, the Anatolia School of Business and The Hellenic Initiative. Venture Garden is a blended learning educational process that aims at helping participants develop their entrepreneurial mindset and then work on their specific ideas.

Orange Grove

Orange Grove is a dynamic workplace in Athens founded by the Dutch Embassy for young entrepreneurs with Dutch and Greek links who want to develop their business

Found.ation

Found.ation is a leading startup enabling platform for tech-oriented products & services in SE Europe. It offers acceleration programs for the support and guidance of start-up companies and organizes relevant events/hackathons

Impact Hub Athens

Impact Hub Athens is the first Locally Global Collaboration Network, bringing together and inspiring people and organizations with a common goal: to bring change through socially responsible and sustainable initiatives.

KEMEL

KEMEL is an organization made up of active and retired managers with many years of experience if national and multinational corporations. Its members offer their experience and support services free of charge to various small businesses and entrepreneurs who have limited means available to achieve their goals.

Solidarity Mission

The Social Enterprise Incubator Program supports young unemployed people, who are willing to establish social enterprises and social innovations that give a solution to a social issue.

Ekkinisi Lab

Ekkkinisi lab is an initiative by SEV Hellenic Federation of Enterprises in collaboration with the City of Athens. It is a new Business Development Incubator, an organized support environment for young and innovative entrepreneurship in Greece, offering all you need to start up your own successful business, through the following services: Hosting, Consulting, Training, Networking.

American Farm School

AFS is an independent, nonprofit educational institution - a center of teaching and research excellence in sustainable agriculture and other life sciences.

Praksis Business Coaching Center

The PRAKSIS Business Coaching Center (BCC) is an initiative launched by PRAKSIS aiming to support the unemployed from socially vulnerable sectors by helping to get them back into meaningful employment - specifically self-employment. The PRAKSIS BCC functions as a support center for the selected candidates offering training, coaching and consulting in order to help materialize their entrepreneurial goals.

i4G

I4G, the first private business incubator in Thessaloniki founded in 2003, supports new technology ventures by offering state of the art facilities, services, seed capital and hands on management and commercial support. Today, more than 20 companies in various growth stages are hosted in i4G with more than 150 people working for these companies. Since 2017, i4G PRO has been in operation in the city center, serving as a pre-Incubator and co-working space.

CSR programs

Gravity The Newtons

“Gravity The Newtons” is an independent communication and public relations agency. The CSR contribution to AFI was considerable and we owe to Gravity the imaginative creative and production of the first four radio spots of the organization as well as a negotiated free-airtime at Parapolitika.FM - You can listen to all radio spots at: http://www.afi.org.gr/en/videos-press-radio

Law Offices Papaconstantinou

The Law Offices Papaconstantinou graciously supports AFI by providing legal advice on the regulatory framework for micro-credit in Greece, and with all legal aspects of the development and operation of the organization.

Law Offices Papaconstantinou has a strong and successful track record in litigation and consulting in areas including commercial law, commercial agency and distribution, company law, mergers and acquisitions, competition, labor law, real estate, product liability, industrial and commercial property. Since its establishment in 1955, the firm has serviced many Greek and international clients, including prominent global corporations, privately held businesses, organisations, entrepreneurs and individuals.
(www.papaconstantinou-law.gr)

WATT+VOLT

WATT+VOLT, responding to the challenges of the tough business times, promotes entrepreneurship by actively supporting AFI. They achieve this by informing their clients, the people and by promoting the philosophy of AFI, thus participating in the creation of new job positions.