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Payday loans what they are and how they work


In support of entrepreneurs who need to finance their work, there are fortunately many initiatives, not only national: through the Commission makes available funds specifically for micro, small and medium-sized enterprises: they are the loans , an acronym that stands for Joint European Resources for Micro to Medium Enterprises, or ” Joint European Resources for Micro and Medium-Sized Enterprises”. This is a case of an initiative of the European Commission developed in collaboration with the Fund, which promotes the use of financial instruments to improve access to credit for SMEs through some structural funds. Here’s how the loans work .

Intended use

Intended use

Precise the structural funds that can be exploited by EU member states to invest in revolving instruments such as risk capital, loans or guarantee funds . These funds can be used in this way:

  • Creation of new companies or expansion of existing companies
  • Access to investment capital for SMEs to modify or diversify business, develop new products, ensure and expand market access
  • Research and development oriented to companies, with technology transfer, innovation and entrepreneurship
  • Technological modernization of production facilities to achieve the objectives of low carbon emissions economies
  • Investments to create and safeguard sustainable jobs

These investments can be provided in the form of shares, loans or guarantees , and returns are reinvested in companies: in this way a group of funds can be used several times, recycling public funds in order to increase capital and sustainability, and impact of public resources allocated to SMEs. There is also an alternative way of functioning of the loans, so the managing authorities of these loans can decide to allocate the resources of the program using holding funds designed to invest in different investment funds: this option offers the advantage of allowing the authorities to management to delegate some of the tasks necessary to implement the program to experienced professionals.



The advantages of loans can be summarized in 5 points :

  • Sustainability
  • Flexibility
  • Leverage
  • Competence
  • Partnerships

These investment structural funds are a more sustainable alternative than traditional assistance through the allocation of funds, they are flexible and more effective because they can benefit from the private and banking sector, while leverage means the possibility of providing assistance to a number. broader projects by combining funds with other complementary financial instruments. serves as an important pole for collaboration between countries , local authorities, banks and investors in order to improve access to small and medium-sized credit.


The loans were launched by the Commission for the first time in 2009, and year after year saw the implementation of the financial engineering tools available to the Regions, and therefore consequently for SMEs that were able to acquire decisive funding, especially for those entrepreneurs who work in the economically depressed areas of the EU and need continuous resources, such as the Mezzogiorno of Italy. In Italy, micro, small and medium-sized enterprises have been provided with amounts from 10 thousand to 900 thousand euro, invested in machinery and equipment as for intangible assets, thus supporting economic growth even in historically difficult years such as those that have just passed.