Budget: €300,000,000
The Fund’s budget was set at €300,000,000, following an increase in resources by €100,000,000.
Beneficiaries
The Fund concerns eligible small and medium-sized enterprises that are established and operate legally in Greece.
Participation Requirements
A. The financed enterprise is fully exempt from interest on the portion of the loan co-financed by the fund (i.e., 40% of each loan), given that this amount is provided interest-free by the Fund.
B. The Fund may subsidize a portion of the interest rate applied by the Credit Institution to its capital (i.e., 60% of each loan). The subsidy applies to the first 2 years of the loan (from the 1st disbursement) and reduces the Credit Institution’s interest rate by 3%, which correspondingly reduces the final interest rate of the loan.
C. Every Credit Institution participating in the Fund is obliged to reduce the interest rate of each loan by at least 25 basis points (bps) annually compared to the interest rates that would apply to a similar financing without the Fund’s participation.
D. The maximum amount of collateral that the Credit Institution may request for each financing may not exceed 100% of the loan principal
Loan Amounts
The loan amount can range as follows:
Sub-program 1 for Investment Loans:
Action 1.1: Loans via De Minimis (Regulation (EU) 2831/2023) from €20,000 to €1,500,000
Action 1.2: Loans via GBER (Art. 21) from €20,000 to €8,000,000
Sub-program 2 for Special Purpose Working Capital Loans
Action 2.1: Loans via De Minimis (Regulation (EU) 2831/2023) from €10,000 to €500,000
Loan Duration
Sub-program 1 for Investment Loans: From 5 to 12 years, including any grace period up to 24 months.
Sub-program 2 for Special Purpose Working Capital Loans: From 2 to 5 years, including any grace period up to 12 months.
