Empowering Entrepreneurs Enriching Communities
What we do
We want to create growth and prosperity by offering micro-loans on business viable terms to individuals with foreign backgrounds ready to start-up or expand a business in Sweden. Favafond is providing loans to a category of entrepreneurs, not finding many alternatives as of today.
We are convinced that there are more people sharing our values and who want to contribute in creating not only financial but also human values with our savings. The funding is raised through savings by retail and corporate investors through investing in a unique microloan fund.
Favafond is a network of individuals, organizations and partners united by the belief that supporting new entrepreneurs with funding, advice and network leads to more small businesses & prosperity for entrepreneurs, society, and all of us.
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Just like the favabean that needs water and nutrition to flourish, we believe that the entrepreneurs need capital, trust and advice to prosper!
— Charlotte Lundberg, CEO and Founder
Entrepreneurs
At Favafond, we offer financial products and advice designed to help you achieve your financial goals. Whether you’re starting a new business, are planning for the future, or exploring new investment opportunities, our loans provide the flexibility and expertise you need. You can read more about the loans on the page For entrepreneurs.
Impact Fund investing
Favafond raise funds for a unique microcredit fund that supports underserved entrepreneurs in Sweden, operating similarly to a venture capital fund but focusing on microloans instead of equity investments.
Favafond presents an investment opportunity that delivers financial returns while promoting societal change in Sweden. If your goal is to create social impact with your investment you can read more on the page For investors.
Partners
Favafond is more than a financial services provider, we are a community builder and a catalyst for inclusion. We partner up with organisations, business advisors and accountants all over Sweden to provide advice and support for all our entrepreneurs.
We also believe in the force of entrepreneurship as a way to earn a living and se collaborate both with volunteers and non-for-profit organisations to support a new entrepreneur! Join us to transform the landscape of micro-financing in Sweden and beyond. Read more on the page For partners.
About Favafond
Mission
Favafond mission is to build an inclusive business sector where all entrepreneurs, regardless of background, have equal opportunities to contribute to and benefit from Sweden’s economic growth.
Vision
Our vision is to create social and economic impact by empowering entrepreneurs, regardless of background, by offering microloans, business advice and network.
Our aim is to increase long term successful businesses in Sweden. By supporting approximately 300 small businesses led by immigrants we expect to create 500 new jobs. Our microloans and consulting services should generate a social impact value at two times the invested capital from investors.
Values
We create win-win solutions for entrepreneurs, investors and partners. We are more than a financial services provider; we build communities and a catalyst for inclusion and growth.
Testimonials
“With the loan from Favafond, I had the possibility to start my hair salon. I opened the doors in January 2020 and two months later, the city center closed for the pandemic. Without the support, advice and network that accompanied the loan my business would not have survived. Since 2020 I’m supporting myself and my two kids from the revenue of my business.“
— Awet T - entrepreneur with a hair salon in Söderhamn
I had just about started my own business, and I needed a loan to buy a car. Although I’d lined up clients, had 20 years of experience as an electrician and all credential in place, no bank would grant me a loan. Favafond stepped in and lend me 100 000 kr and now I’ve run a business since 2021. It’s been a struggle with the pandemic and a slow down in the economy but with the help of my accountant and Favafond I’ve made it so far.
— Dimitry S - Self-employed entrepreneur in Nacka
Since long we have seen the need for an alternative lender from the need of loans from our franchise. Favafond is exactly the initiative we would like to see, an additional organization that will contribute to more entrepreneurship in Sweden. A credit institution that we want to support and collaborate with! An investment in Favafond is an important step in our sustainability strategy fulfilling the ESGs goals formulated by United Nations.
— Lars Callebro - chairman of the Board and owner of Svenska Taco Bar AB