Entrepreneurship Fund – Business Restarting Action

Financing for small and medium enterprises through working capital and/or investment loans. Take advantage of 50% interest-free financing since 50% of the given loan is funded by the Entrepreneurship Fund and is interest-free.

Businesses active in:
Businesses active in:

  • Manufacturing
  • Trade
  • Services
  • Tourism
  • In 3-monthly instalments that pay interest and capital
from 3,90%
to 4,45%
throughout the loan term
  • Up to 2 years grace period (for investment loans)
  • Early repayment option without penalties

Eligibility criteria

For business investment plans, the financing amount ranges from €10,000 to €800,000. It relates to businesses:

  • Included in state aid programmes which have not been implemented yet
  • Not included in state aid programmes which have not been implemented yet

For working capital, the financing amount ranges from €10,000 to €300,000. It covers:

  • Business growth needs (establishment and founding costs, business expansion costs, etc.)
  • Individual business needs that relate to the company's trade/transaction activities (purchase of raw and auxiliary materials, purchase of goods and services, general expenses, labour costs, etc.)

Every company may be included in both types of preferential loans, under certain conditions.

Eligible costs are considered outstanding invoices that finance liabilities relating to the company's trade/transaction turnover as part of its activities. Especially though they relate to expenses incurred as part of a company's establishment, founding or expansion.

Other costs considered eligible include purchase of raw materials, payroll costs, stock, general expenses, etc.

The expenses excluded from Commission Regulation EC 1998/2006 (de minimis) are not considered eligible.

Financing features

Loan term:

Investment Loan

From 5 to 12 years, including the grace period up to 24 months.

Working Capital

Up to 48 months.

After taking into account that 50% of the loan is funded by the Entrepreneurship Fund and it is interest-free, the final interest rate* charged to the customer comes to:

  • 4,45% fixed, for collateral-free loans
  • 3,90% fixed, for loans with collateral

*Plus the Law 128/1975 levy (0.60%), which applies for 50% of the loan.

Repayment method

  • In 3-monthly instalments that pay interest and capital.

You can repay all or part of the amount at any time at no cost (e.g. early repayment penalty).

Loan fees:

0.5% of the initial loan amount, with a maximum of €2,000 and a minimum of €100.

Supporting documents

Apart from the financial information the Bank requires to assess and approve the loan, additional supporting documents must be submitted to the Entrepreneurship Fund.

Eligible companies

The Action is aimed at small and medium enterprises (SMEs)** of any legal form (sole proprietorship, general partnership, limited company, SA) and at any stage of operation (under incorporation, newly-established or existing) which fulfil the following conditions:

  • They are and will remain SMEs regardless of the operation manner they choose to follow (independent, associated or related company)
  • They are registered, operate and invest in Greece
  • They do not exceed the highest amount as it is defined by the de minimis Regulation
  • They have no outstanding tax or social insurance obligations
  • They have received a guarantee from the Hellenic Fund for Entrepreneurship and Development (ETEAN SA) for programmes that have been concluded or are still ongoing and keep updated guaranteed loan liabilities
  • They are active in all Greek economic sectors, apart from certain exceptions, provided they hold eligible Activity Codes.

**Companies that employ up to 250 staff in Annual Labour Units, and have up to €50 million in annual turnover or up to €43 million in assets.


The final date for the disbursement of these loans is 31.01.2017, provided that the budget for the program hasn’t been absorbed earlier.

How to get it

To find out more about financing products through the Entrepreneurship Fund-Business Restarting Action and how to get them: