Fin-Crea: New Initiative to Boost Financial Inclusion of Morocco’s VSEs

Tamwilcom, a state owned company that specializes in project financing, announced on January 31 the launch of “Fin-Crea,” a digital platform designed to “further facilitate access to bank financing for very small enterprises (VSEs).”

Fez – Tamwilcom, a state owned company that specializes in project financing, announced on January 31 the launch of “Fin-Crea,” a digital platform designed to “further facilitate access to bank financing for very small enterprises (VSEs).”

In its announcement, Tamwilcom said the platform aims to help founders or owners of newly created very small enterprises’ (VSEs) chances of obtaining the bank financing they need to start their activities.

The platform will be launched in a pilot version in the Tanger-Tetouan-Al Hoceima region in northern Morocco, before seeing its scope expanded in a second phase nationwide.

Fin-Crea is dedicated to linking project owners with banks and it has been validated and backed by partner banks, Tamwilcom said.

This fully digital platform targets VSEs that were established less than one year and have never received bank financing before. Eligible VSEs should be seeking an investment loan of up to MAD 2 million, noted Tamwilcom’s statement.

Any interested owner of an eligible project can describe his or her business plan online by accessing the platform (www.fincrea.ma) and submitting a set of details about his or her profile and project.

After a preliminary review, the finance requests are sent to the project leader’s preferred bank for review and decision.

Fin-Crea has two purposes, according to Tamwilcom’s statement. First, the platform eases the project owner’s contact with his preferred financial partner. Second, bankers will have a prospecting database of qualified projects at their disposal, in addition to functional tools to help them in their decisions.

The double objective makes Fin-Crea a new lever in the development of the financial inclusions of VSEs in Morocco.

Tamwilcom concluded its announcement by stressing that the platform also aims to contribute to the acceleration of the achievement of the objectives of Morocco’s Integrated Program of Support and Financing of Entrepreneurship (INTELAKA) as well as those of the National Strategy of Financial Inclusion.