In order to overcome the financial outcomes of outbreak of COVID-19 , this funding line was created in cooperation with European Investment Bank (EIB) so as to provide working capital and investment loans to all the eligible enterprises.
Working Capital loan can finance expenditures such as the purchase of goods & raw materials
Investment Loan can finance, indicatively, the following expenditures :
- Purchase of equipment
- Research and development expenses
- Purchase, construction, renovation or extension of tangible assets
This funding cannot be used to refinance or restructure existing business loans.
Loan Amount & Duration
The amount of the loan can be up to €12.5 million, subject to conditions, and the duration & the grace period is individualized in each case.
Interest Rate
Variable based on Euribor or BLR, plus charge payable pursuant to Law 128/75 (where provided)
The final interest rate will be reduced in relation to the one that would have if financed outside this program.
Repayment method
In monthly, 3-monthly, 6-monthly or annual instalments that pay interest and capital or capital
Disbursements
One-off or Partial instalments.