COSME Piraeus Open Business Working Capital POS

Piraeus Bank, in cooperation with the European Investment Fund, participates in the “COSME” guaranteeing tool and grants loans to support small and medium-sized enterprises on preferential terms and reduced collateral (guarantee by the Fund for 50% of the loan and collateral not exceeding 30% of the amount of the loan)
Small & Medium businesses and professionals, with a turnover of up to € 2.5 million, to cover recurring liquidity needs against future receivables from POS sales
  • Capital: Automatic repayment through the POS
  • Capital repayment at anytime
  • Minimum monthly payment of 5% of the outstanding balance
Base Loan Rate (BLR) of Piraeus Bank
  • Ability to perform all of the company's payments through this account
  • Ability to use the account through winbank

Eligibility criteria

Eligible companies, are  that meet the following criteria:
  • Is an SME, i.e. they employ up to 250 employees, calculated on annual labor units and the Turnover of the last closed year does not exceed € 50 million or the Asset does not exceed € 43 million.
  • Does not operate on one or more Restricted Sectors, as descripted below
  • There is no bankruptcy claim, nor is bankruptcy being liquidated or temporary - forced management
  • Is not delinquent or in default in respect of any other loan or lease either granted by the Bank or by another financial institution
  • Is established and operating in Greece

Restricted Sectors

Not eligible for funding, are companies whose business is related to:
  • Any production, trade or other activity, which is illegal under the laws or regulations of the home jurisdiction for such production, trade or activity – “Illegal Economic Activity” (i.e. Human cloning for reproduction purposes is considered an Illegal Economic Activity)
  • The production of and trade in tobacco and distilled alcoholic beverages and related products
  • The production of and trade in weapons and ammunition of any kind.
  • Casino and equivalent enterprises
  • Research, development or technical applications relating to:

    • Human cloning for research or therapeutic purposes; or

    • Genetically Modified Organisms (“GMOs”)

    • Electronic data programs or solutions, which:

      • Aim specifically at supporting any activity included in the Restricted Sectors referred to, internet gambling and online casinos, pornography

      • Or are intended to enable to illegally enter into electronic data networks or download electronic data.

Financing features


Funding for Small and Medium Businesses and Professionals, with a turnover of up to € 2.5 million, for working capital against future receivables from POS sales


From €4.000 up to €300.000
If the funding amount is in excess of €150.000 it should be verified that the company is not eligible for financing under any of the Innovfin Innovation Eligibility Criteria.

Type -Duration of Finance

Duration of credit up to 10 years

  • First 5 years: Open Revolving Working Capital with annual renewal
  • Next 5 years: Fixed repayment plan Working Capital


The working capital will be granted exclusively in Euro (€)

Interest Rate

Variable interest rate based on the:

  • Base Loan Rate (BLR) of Piraeus Bank
Interest rates are also subject to the Law 128/1975 levy, currently at 0.60% (or 0.12% where this is foreseen).


First 5 years
  • Minimum monthly payment of 5% of the outstanding balance
  • Automatically repaid through the transactions performed by the POS
  • Option of free reusing the capital

 Next 5 years

  • In equal monthly instalments (capital and interest)


  • Reduced collateral requirements due to the guarantee provided by the European Investment Fund (EIF)

How to get it

In order to find out about Financial Products through the “COSME Loan Guarantee Facility” and the process to get them:

Visit any Piraeus Bank branch

Find the nearest branch

Call 18 2 18

This financing is made possible thanks to the Guarantee provided by COSME and the European Strategic Investment Fund ("ESIF") set up under the Investment Plan for Europe. The aim of the ETSC is to contribute to the financing and realization of productive investments within the European Union and to ensure increased access to finance.