Α. Business Loans for the financing of investment projects (investment purpose) - Loan amount: 25.000 EUR to 1.500.000 EUR - Eligible costs: Expenditure on business investment projects which have not been implemented at the time of loan approval. - The investment projects may be implemented either under a State aid scheme or independently, subject to an approval decision by a banking institution. - Duration of repayment: 5 to 10 years with the possibility of a grace period of up to 36 months. - The loan is disbursed in one lump sum or in instalments within 24 months of the signing of the contract. Β. Special purpose business development loans - (Working Capital for the development/expansion of the business) - Loan amount: EUR 10 000 to EUR 500 000 correlated to the turnover in order to cover growth needs. - Eligible expenditure: Expenditure related to the operating costs of the business and its business cycle. VAT is eligible as an expense. There is no obligation to match the documentation of the use of the working capital loan with relevant supporting documents for expenditure. - Repayment period: 24 to 60 months, with the possibility of a grace period of up to 24 months. - The loan is disbursed in one lump sum or in instalments within 6 months of the signing of the contract. - Any firm may, under certain conditions, be eligible for both types of soft loan. Γ. Provision of Working Capital interest-free, with an interest rate subsidy at 100% for two years, due to pandemic COVID-19 Loan amount: Up to 50% of the company's turnover or up to 50% of the current year's orders. For start-ups, up to 50% of current year's orders or 80% of credit purchases. The loan may not exceed 100 % of the equity capital. - Eligible costs: Expenditure related to the operating costs of the business and its trading circuit. VAT is eligible as an expense. - There is no obligation to document the use of the working capital loan with relevant cost documents. - Repayment period: 24 to 60 months with a possible grace period of 6 to 12 months. - The loan is disbursed in a lump sum or in instalments on the company's account. - The enterprise must maintain for the entire two-year period of the interest rate subsidy at least the same number of employees as it employed on 19.03.2020 - The interest rate charged on the Bank's participation in the loan capital does not exceed 8% for the period during which it is subsidised (first two years). For this period the interest rate on the loan will be fixed. D. "Sub-programme 4" for providing Working Capital interest-free for two years Sub-programme 4 of the CIFI II Business Finance Action concerns co-investment loans, (with 5% EIF : 95% Banks) with an interest rate subsidy for two years. Under sub-programme 4, an additional €180 million of CIF II resources are added, bringing the total co-invested EAT - Banks funds for all four sub-programmes to approximately €2.3 billion (EAT: €1.003 billion - Banks: €1.297 billion). Eligibility: Sub-programme 4 is exclusively for enterprises that have already applied for a loan under sub-programme 3, but none of their applications were approved due to unavailability of funds. Enterprises which have received at least one loan under subprogramme 3 of the CIFIF II Entrepreneurship Fund or have received a loan guaranteed by the 'COVID 19 Enterprise Guarantee Fund' are not eligible to apply for a loan under subprogramme 4. It should be noted that the State Aid Information System will not be reopened to accept new proposals, but banks will submit for approval those requests which were submitted to them but their loan was not successful due to the limited resources of the programme.
Who is targeted
For sub-programmes 1-2: start-ups, start-ups, new and existing, micro, small and medium-sized enterprises. For sub-programme 3: start-ups, new and existing micro, small and medium-sized enterprises which are suffering the adverse effects of the spread of COVID - 19, on the basis of specific activity codes.
from 26/3/2019 (until the budget is exhausted)
The submission of loan applications by interested businesses is done through the online link www.ependyseis.gr/mis and they are then required to submit the physical file to a branch of one of the partner Banks. Cooperating banks NATIONAL BANK PIRAEUS BANK PIRAEUS BANK ALPHA BANK EFG EUROBANK ATTIKIS BANK PAGRETIA SYNETIC BANK COOPERATIVE BANK OF EPIRUS COOPERATIVE BANK OF THESSALY COOPERATIVE BANK OF KARDITSA COOPERATIVE BANK OF CHANIA
Type of aid
Loan/interest rate subsidy
Area of application
The amount of the co-financed fund 'BUSINESS FUND II' is increased by the last amendment of the Action by 180 million euros and its total budget now amounts to one billion three million three hundred thousand euros (1.003.300. The resources available for the "Business Finance" action have been increased accordingly, amounting to EUR 989 253 800, bringing the total EIF-Bank co-financing for all four sub-programmes to approximately EUR 2.3 billion (EAT: EUR 1 003 billion - Banks: EUR 1 297 billion).
- 1η τροποποίηση Πρόσκλησης (22/03/2019) (PDF – 1,18 Mb)
- Σύνοψη (2/9/2019) (PDF – 388,66 Kb)
- 2η τροποποίηση Πρόσκλησης (4/5/2020) (PDF – 434,87 Kb)
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- 3η και 4η τροποποίηση Πρόσκλησης (16/9/2020) (PDF – 1,01 Mb)