A microcredit project to support people affected by the earthquake that struck Italy in May 2012. Facilitating access to credit to small and medium business, start-ups, and families that would have probably been neglected by the traditional banking system


loans allocated

€ 9,466,705

total amount loaned


of beneficiaries under 35 years old

There is a restarting Italy

For the first time in Italy, charity became concrete support from an entrepreneur to other entrepreneurs, when our founder Renzo Rosso announced the creation of a micro-credit loan project of 5 million euro from his personal assets, to support people affected by the earthquake in the Italian region of Emilia-Romagna.
The project is managed in partnership with Etimos Foundation Onlus that has been operating for many years in the micro-finance sector, and has proven experience in post-emergency contexts – starting from another Italian region ravaged by an earthquake: Abruzzo

Leveraging on entrepreneurial spirit and the will to rebuild

The allocation is done through regional banks, with an agreement ratified by ABI (the Italian Banks Association) defining the terms and conditions. In this way, banks themselves commit to leveraging the initial 5 million euro, and raise the sum available for loans up to 25 million euro.

A group of volunteers evaluate all requests, support the people who receive the loan, and provide technical expertise. Local socio-economic agents reduce management costs, freeing more resources to the beneficiaries of the project

The Only The Brave Foundation and its President are involved as committee members that supervise the Brave Circle Fund. The fund has already dispensed more than 9,000 loans to families, small and medium businesses and start-ups affected by the earthquake in the Italian region of Emilia-Romagna



Brave Circle Fund recipient

“Thanks to this loan I was able to buy a small shed and a container where I temporary moved my organic farm waiting for the materials to restore the structure of the farmhouse. Since 2012, the activity restarted and I decided to sell directly to customers. A great risk but one which is giving me many satisfactions.”


Brave Circle Fund recipients

“We lost our previous job because of the earthquake, but thanks to Microcredito per L’Italia we achieved our dream: “Note di Malto”, one of Mirandola’s most historical buildings, a place where young people can eat and drink, as well as a small musical shop of instruments and recovered accessories.”


Brave Circle Fund recipient

“I used to be an architect but I decided to quit my job after the earthquake and return to my family’s hometown, Modena, to contribute to the economy of our devastated territory. Thanks to Microdredito I renovated a property damaged by the earthquake where I opened a food laboratory that bakes sweet and salty snacks for coeliac people, distributed in pharmacies and specialized shops all over the country.”