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Hoist Finance and TEAM U expands its partnership and launches a digital platform for entrepreneurs in financial distress

JULY 7 2021

Thanks to the support of Hoist Finance, TEAM U is able to expand its services – to help even more entrepreneurs – through the launch of a dedicated digital platform. The aim is to leverage the platform to support small and medium sized enterprises that have fallen into financial difficulties – by providing advice, concrete crisis assistance and concepts for stabilizing liquidity.

Last year, Hoist Finance and TEAM U entered a partnership in a joint mission to help entrepreneurs in financial distress. The impact of Covid-19 lockdowns on the global economy and local enterprises has proved to be significant and as a result, small and medium-sized companies in particular, are increasingly reaching the limits of their financial capacity. Already a few months into the pandemic, TEAM U experienced a 120% increase of entrepreneurs seeking support.

Now, thanks to the support of Hoist Finance, TEAM U is able to expand its services – to help even more entrepreneurs – through the launch of a dedicated digital platform. The aim is to leverage the platform to support small and medium sized enterprises that have fallen into financial difficulties – by providing advice, concrete crisis assistance and concepts for stabilizing liquidity.

"We are very excited to launch our digital platform right now. With this service, we can help many more people in financial distress. The new offering is a great opportunity – for those affected, of course, but equally for society as a whole. Since the pandemic, we have seen a massive increase in inquiries. We hope that we will now be able to support even more of those affected," says Attila von Unruh, founder of TEAM U.

The new service, made possible through the support of Hoist Finance, is an easy-to-use One-Stop-Shop, and offers information, training and advice. To this end, network partners of TEAM U provide their content free of charge. The basic idea is that the exchange of knowledge and skills between the various parties can lead to practical assistance that enables financial inclusion for those affected.

TEAM U has already helped more than 25,000 people overcome their financial crisis, and now they see a large potential to expand its efforts through the online platform and via the partnership with Hoist Finance. To this end, TEAM U has primarily worked with volunteer mentors and one-on-one coaching sessions.

"We are convinced that it is possible to support people on their way back into the financial ecosystem. We have followed TEAM U's work with great interest and are glad that we can help them expand their offering and reach even more people with this digital platform,” says Christian Steinebach, Country Manager for Germany at Hoist Finance.