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

Αναστασία Τσίλογλου, Γενική Διευθύντρια AFI

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.

Μαρίσα Αντωνοπούλου, Αθήνα, υπεύθυνη ανάπτυξης AFI

Marisa Antonopoulou

COO

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.

Δημήτρης Σίμος, Microcredit Development Officer - Αθήνα AFI

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.

Διευθύντρια Γραφείου Β. Ελλάδας AFI

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

https://www.afi.org.gr/userfiles/people/Pavlos%20Antonoglou_1256549891.PNG

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.

Pericles Ananiadis, Information Technology Director

Pericles Ananiadis

Information Technology Director

Computer Science, University of Westminster, PMP, CIA, CTFL, CIFR

Work Experience: Eurobank, Eurobank Cards, Intracom, Hero Consultants,. Experienced in: Banking, Operational Mergers, Digitalization, Software Testing, Co-Founder & CIO at Software Testing.

Dorothea Gkikopouli

Dorothea Gkikopouli

Microcredit Development Officer – Athens

MSc, Project Planning and Management, University of Bradford – Department of Peace Studies and International Development. Certified Associate in Project Management (CAPM)

Work experience: ΝΑΤΟ HQ, TATA Consultancy Services, ITWAY Hellas, Retail shop owner Experience in: Project Planning, Accounting, Retail Management, Business Planning, Budget Planning Analysis She has studied and worked in the UK, Italy, Hungary and Belgium

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 partner is Eurobank, 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 is responsible for the credit check and disbursement of the microloans.

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:

Στρατηγικός συνεργάτης της AFI, το The People's Trust

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.

Στρατηγικός Συνεργάτης της AFI το Venture Garden

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.

Στρατηγικός συνεργάτης της AFI, το Orange Grove

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

Προώθηση νέων εταιριών από την AFI και το FOUND.ATION

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

Συνεργάτης της AFI το Impact Hub, η θερμοκοιτίδα επιχειρήσεων

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.

Συνεργάτης της AFI, το KΕΜΕΛ, κέντρο εθελοντών manager Ελλάδος

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.

Υποστηρικτής της AFI, το Solidarity Νow

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.

Συνεργάτης της AFI το Ekkinisi Lab του Δήμου Αθηναίων

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.

Συνεργάτης της AFI, η Αμερικάνικη Γεωργική Σχολή Θεσσαλονίκης

American Farm School

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

Συνεργάτης AFI, το Praxis Business Centre BCC

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.

Στρατηγικός συνεργάτης της ΑFI, το Incubation for Growth

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

Υποστήριξη μικροδανείων με εταιρική κοινωνική υπευθυνότητα  και Watt & Volt

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.

Συνεργάτης της AFI το δικηγορικό γραφείο Παπακωνσταντίνου.

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)

Συνεργάτης της AFI, το The Newtons, Gravity

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

Annual Reports

Every cloud has its silver lining. Agility and innovation have been the silver lining of the pandemic. In 2021, having already two tough years under our belts, both AFI and the entrepreneurs we have supported, invested considerable effort and resources to innovate, transform,
restructure, and embrace new models, technologies, and automations. In 2021, AFI  embarked on building the foundation of the organization’s growth and expansion.

Annual Report 2021

Every cloud has its silver lining. Agility and innovation have been the silver lining of the pandemic. In 2021, having already two tough years under our belts, both AFI and the entrepreneurs we have supported, invested considerable effort and resources to innovate, transform, restructure, and embrace new models, technologies, and automations. In 2021, AFI embarked on building the foundation of the organization’s growth and expansion.

More
The Impact Assessment and Client Satisfaction Survey 2021 highlights the positive social and economic impact of AFI’s continued operation since inception (2014), achieving its mission statement that its founders set forth. The results of this report is a valuable legacy while also functioning as a minimum benchmark of social performance for the years to come.

Impact Study 2021

The Impact Assessment and Client Satisfaction Survey 2021 highlights the positive social and economic impact of AFI’s continued operation since inception (2014), achieving its mission statement that its founders set forth. The results of this report is a valuable legacy while also functioning as a minimum benchmark of social performance for the years to come.

More
Life is what happens while we are busy making other plans. In 2020 we were all caught by surprise, disconnected from any conditions we took for granted, and impacted severely, in all aspects of our being. In AFI, as in everywhere else, we had to put most of our initial plans on hold, to roll up our sleeves and put new priorities in place.

Annual Report 2020

Life is what happens while we are busy making other plans. In 2020 we were all caught by surprise, disconnected from any conditions we took for granted, and impacted severely, in all aspects of our being. In AFI, as in everywhere else, we had to put most of our initial plans on hold, to roll up our sleeves and put new priorities in place.

More
Εκτίμηση αντικτύπου και έρευνα ικανοποίησης πελατών της AFI

Annual Report 2019

In 2019 we celebrated a 5 years’ long journey into microfinance and support of micro-entrepreneurship in Greece. A journey with constant shifts, transformations, challenges and pivotal points.

More
Εκτίμηση αντικτύπου και έρευνα ικανοποίησης πελατών της AFI

Annual Report 2018

2018 was a year of focused work with an eye to the future. However numerous and tempting the distractions throughout the year, AFI aimed intentionally mainly at three things:To offer its microfinance services to more Greek territories,To foster strategic partnerships,To prove that microfinance creates value.

More
Social Return on Investment

Social Return on Investment

AFI was created in order to face the social and economic exclusion by helping vulnerable people, unemployed and self-employed people who are excluded from the mainstream banking system, to start-up or to develop their business or a micro-enterprise.

More
Ετήσια αναφορά 2017 για τα αποτελέσματα μικροπιστώσεων της AFI

Annual Report 2017

In 2017 we became three years old and we celebrated numberous achievements. The success of our organization can only be measured through the success of those we support and this guided our decisions and actions these past 12 months

More
Αναφορά δραστηριοτήτων Action Finance Initiative 2016

Annual Report 2016

This past year Action Finance Initiative (AFI) made a leap in spreading the power of microfinance in Greece. Amidst difficult times, hundreds of people were informed about the transformative potential of the tool and were trained on various business thematics

More
Εκτίμηση αντικτύπου και έρευνα ικανοποίησης πελατών της AFI

Impact Study 2016

AFI was created to tackle social & economic exclusion by helping unemployed and self-employed persons and generally vulne rable citizens excluded from mainstream banking system, to start-up or develop a professional activity or a micro-enterprise.

More