HDB Loans Entrepreneurship Fund III

The financing of SMEs to support and expand their operations, according to the Business Plan submitted each time. The Fund will support the development of business activity and the strengthening of employment in the country, through:

• Special Purpose Working Capital Loans
  
• Investment Loans
  

The following are not considered as acceptable financing purposes:

• The refinancing/repayment of existing borrowing
  
• The financing of a dividend payment plan or the purchase of shares
  
• The financing of Acquisitions and Mergers and
  
• The purchase of land for an amount exceeding 10% of the Fund's contribution to the respective loan.

Working Capital: From €10,000 up to of €500,000 per company

Investment Loans according to the Aid Regulation:

• From €20,000 up to €1,500,000 per company under De minimis
  
• From €20,000 up to €8,000,000 per company under General Block Exemption Regulation (GBER)

• Working Capital: From 2 up to 10 years (including grace period)
  
• Investment Loans: From 5 up to 12 years (including grace period)

Two-year interest rate subsidy of 3% which:

• Is definitively terminated in the event of an overdue payment of more than 90 days
  
• Does not cover the levy of Law 128/75 and any late payment interest that, in any case, is borne by the customer

• For small businesses and professionals (Turnover ≤ €2.5 million):
  Monthly or quarterly installments combining principal and interest
  
• For medium enterprises (€2.5 million Monthly quarterly, semi - annual, annual installments of principal and interest combined or principal and interest apart
  Balloon payments are offered for Working Capital cases, on the condition that the remaining capital due will not be greater than 70% of the disbursed loan at the last 25% of the total loan term

Disbursements can be either one-off or partial.

The first disbursement (one-time total or first installment) of the amount of the Contract should be made within four (4) months from the signing of the Contract. In case of partial disbursements:

• the 1st disbursement will obligatorily take place within four (4) months from the date of signing the Contract, and
  
• the final date of completion of the disbursements is set within 24 months from the 1st disbursement and in any case until 31.12.2029 (disbursements final date), whichever date from the above comes first.

Early partial or full repayment is possible without any charge. The capital repaid can not be refinanced.

Up to 100% of the loan amount.

The availability period expires on 31.12.2029.

The program is open to Small and Medium Enterprises (definition of SMEs (Annex I of EP 651/2014) , which operate legally in Greece, except for off-shore, holding groups participating in other companies, companies in the financial sector, public bodies and their subsidiaries, local government organizations and their subsidiaries, with:

• Eligible NACE CODE
  
• Maintain an establishment and operate in Greece legally and have been established up to the time of submitting the financing application to the Bank.
  
• They are not considered as Problematic Enterprises (as defined in point 18 of article 2 of Regulation 651/2014), when submitting the application for funding to the State Aid Information System.
  
• They are considered creditworthy in accordance with the current credit policy and internal procedures of the Bank.
  
• Not have been subject to collective insolvency proceedings and do not meet the conditions under the domestic legislation to which they are subject to be subject to collective insolvency proceedings at the request of their creditors.
  
• They are bank aware (they owe <90 days) at the time of submitting a request for financing to the Credit Institution.
  
• They are companies for which there are no grounds for exclusion of article 40 of law 4488/17 (A 137/139/17),
  
• There is no pending recovery order of previous illegal and incompatible state aid based on an EU or WEU decision
  
• They have not received another loan in the context of the present action of TADYM In case the enterprise has previously joined HDB (formerly ETEAN) programs that have expired or are in force, it should not demonstrate adverse transactional behavior in debt repayment, such as a loan contract termination or relevant overdue debts over ninety (90) days or in the case of adverse transaction behavior the recipient has fully repaid his debt before submitting the application for funding or in the event of adverse transaction behavior: (a) in the case of a guarantee scheme, the amount of a guarantee owed has not been paid; Once the said debt has been confirmed to the competent Tax Office, it has been included in a regulatory regime, which continues to be in force on the date of submission of the application
  
• They have not been excluded by an exclusion decision from the EIB both at the time of submitting a financing request to the EXO and at the time of concluding the Final Recipient Agreement in accordance with the EIB's Exclusion Policy (https://www.eib.org/en/about/accountability/anti-fraud/exclusion/index).
  
• They have been registered in the Register of Beneficial Beneficiaries of article 20 of Law 4557/2018 (Α΄ 139), as applicable, before the date of submission of the financing application, except in the cases of beneficiaries who are expressly exempted from the relevant obligation and provide relevant documentation.
  
• They have completed the self-assessment process for the ESG Criteria in the ETA's ESG Tracker, and have submitted the ESG Tracker Performance Report in PDF format to Piraeus Bank when submitting the financing application, where the company's performance against these criteria is reflected.

1. Once a series of eligibility criteria are checked, your application is sent to the bank of your choice
2. Selection of bank by the applicant
3. Τhe bank expresses its high-level interest in receiving application, "Interested" Status
4. You receive a unique code per bank which you will enter during your application at in app.opske.gr

1. Enter app.opske.gr with your personal codes (in case of lack of codes you must register)
2. Fill in the details of the business to be financed in the application adding the unique code generated by the "Know Your Customer (KYC)" HDB platform
3. Select Piraeus Bank to submit your request
4. Finalize and submit your application to the system