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
Especially, working capitals loans that are signed until the 31.05.2022 (Covid-19 Eligibility Window) eligible expenditures also include: payroll expenses, tax payments (VAT & tarrifs, i.e tax or duty to be paid in relation with imports or exports), social contributions, administrative expenses & operating expenditures.
Investment Loan can finance, indicatively, the following expenditures:
- Purchase of equipment
- Research and development
- Purchase, renovation or extension of tangible assets, including the development and planning during the construction phase; financing costs during the construction phase for up to 10% of the total Project cost; financing of land purchase which is technically essential for the investments for up to 10% of total Project cost
Loan Amount & Duration
- Loan amount: €20.000 - 12,5 € mil.
- Loan Duration: 2 to 5 years with a grace period of up to 12 months
Interest Rate
Variable based on Euribor + Margin:
- Euribor 1M / 3M (for Small Businesses and Professionals)
- Euribor 3Μ/6Μ/12M (For Medium Size Enterprises)
The margin shall be reduced by at least 25 basis points per year, compared to what the company would have if it had been funded by the Bank. Exemption from the charge payable pursuant to Law 128/75.
Repayment method
In 3-monthly, 6-monthly or annual instalments that pay interest and capital or capital.
- Small Businesses and Professionals: 3-monthly, 6-monthly that pay interest and capital or capital
- For Medium Size Enterprises: 3-monthly, 6-monthly or annual instalments that pay interest and capital or capital
Disbursements
One-off or Partial instalments.