So far The Brave Circle Fund has already loaned money to 81 individuals and small businesses. Here is the story of one:
Giovanni is twenty-six years old who began his career as an electrician, first as an employee and then on his own. Unfortunately he wasn’t able to make ends meet and was forced to stop.
However this forced stop reminded him of his childhood passion: fishing.
He decided to pursue his dream and open a fishing supply shop. But he needed at least 30,000 € to get things started. His parents helped him with a loan for 10,000 €. But he still needed another 20,000 € and no bank were was to finance him.
“Here, if you have nothing, they won’t give you anything,” says Giovanni. “It was MxIT (Brave Circle Fund’s financial partner) that helped me to realize my dream. In only a few weeks I was granted a loan for 20,000 €, to be repaid over five years in monthly payments of 300 €. They were able to understand the difficulties that a young man my age needs to overcome to start his own business. They’ve given me back my self-confidence. Today I work six days a week, even opening the store on Sunday mornings! Finally I feel in control of my own destiny.”