We are proud and happy to announce that MFC is growing! Let’s introduce and welcome our new Member – AFIN!
AFIN – ALTERNATIVE FINANCING IFN SA is the first non-bank financial institution in Romania, exclusively dedicated to the field of social economy, and, at the same time, the first Romanian non-bank financial institution certified as a social enterprise.
The main objective of AFIN is to facilitate access to financing for social enterprises that have overcome their start-up phase and need capital resources to grow. Thus, they will become true social engines, offering workplaces, integrating people from groups at risk, and increasing both their and their communities’ income, this way contributing to an inclusive and fair society.
AFIN IFN SA has 170 founding members, both individuals and legal persons out of which more than 70% are involved in social economy.
The institution aims to come up with a new approach to financing policy, adapted to the specifics of the social economy. The decision to finance a certain project/client will be based on financial indicators correlated with social and green impact indicators.
The targeted clients are legal entities with social and/or green impact of their activity.
AFIN’s operational model will be based on two main pillars:
- the financing component operated through the NBFI – AFIN IFN SA – that offers its clients loans accessible and personalized for working capital needs, investments or co-financing EU funded projects.
- the consulting vehicle established as an NGO – Social Finance Association (SFA) – that will offer both specialized assistance and know-how to the clients in the field of social financing, as well as support for AFIN IFN through co-financing for various projects.