Loans up to 250,000 euros for working capital in small businesses with the guarantee of the Hellenic Development Bank

The very small companies with a turnover of up to 1,000,000 euros have the opportunity to receive working capital loans up to 250,000 euros or up to 25% of their turnover through the Guarantee Fund Covid 19 (3rd cycle) of the Hellenic Development Bank – HDB. Given the guarantee of the Guarantee Fund, the beneficiary company enjoys a lower interest rate on the loan and much less collateral.

In particular, the loans granted through this fund provide an 80% guarantee from the Hellenic Development Bank, with the maximum percentage of collateral that may be requested from the banks being only 20%. These loans are for a period of up to 60 months, including a grace period of up to 24 months, while the fund can also be used by start-ups.

Another € 300 million available – Applications continue

Lending is in full swing and there is about € 300 million left available. To participate in the Fund, interested companies must first apply at https://ependyseis.gr/mis and then contact the bank of their choice.

The Banks participating in the program are: National Bank, Piraeus Bank, Eurobank, Alpha Bank, Attica Bank, Pancretan Co-operative Bank, Co-operative Bank of Karditsa, Co-operative Bank of Central Macedonia and Co-operation Bank Chania.

The goal of the program

The credit risk is partially covered by a guarantee from the COVID-19 Business Guarantee Fund, for the provision of new regular working capital loans to very small enterprises. The aim is to meet the increased liquidity needs arising as a result of the COVID 19. epidemic crisis. All loans must be disbursed by 30.06.2022 at the latest.