Business Financing – Entrepreneurship Fund II

Financing for small and medium enterprises through working capital and/or investment loans with preferential pricing terms as 40% of the loan is funded by the Entrepreneurship Fund II and is interest-free.
IDEAL FOR
Businesses active in:

  • Manufacturing
  • Trade
  • Services
  • Tourism
REPAYMENT METHOD
  • In monthly and 3-monthly instalments that pay interest and capital
INTEREST RATE
Variable

based on the Base Loan (BLR)

or

the Privilege Loan Rate (PLR)

or

Euribor 1M/3M
OTHER FEATURES
  • Take advantage of the favorable terms provided and choose Piraeus Bank by submitting your application at:
    www.ependyseis.gr/mis
IDEAL FOR
Businesses active in:

  • Manufacturing
  • Trade
  • Services
  • Tourism
REPAYMENT METHOD
  • In monthly and 3-monthly instalments that pay interest and capital
INTEREST RATE
Variable

based on the Base Loan (BLR)

or

the Privilege Loan Rate (PLR)

or

Euribor 1M/3M
OTHER FEATURES
  • Take advantage of the favorable terms provided and choose Piraeus Bank by submitting your application at:
    www.ependyseis.gr/mis

Eligibility criteria

Eligible companies:

  • SMEs regardless of the operation manner they choose to follow (independent, associated or related company)
  • With eligible NACE Codes
  • Don’t have outstanding tax or social insurance obligations
  • Are registered, operate and invest in Greece
  • Do not exceed the highest amount as it is defined by the de minimis Regulation
  • Have received a guarantee from the Hellenic Fund for Entrepreneurship and Development (ETEAN SA) for programs that have been concluded or are still ongoing and keep updated guaranteed loan liabilities
  • Don’t have a pending recovery order due to a prior Commission decision declaring the aid illegal and incompatible with the Common Market.
  • Are active in all Greek economic sectors, apart from certain exceptions, as it is defined by the de minimis Regulation.

Non Eligible companies

Companies active in:

  • the fisheries and aquaculture sectors (Regulation (EC) No 104/2000)
  • the primary production of agricultural products
  • processing and marketing of agricultural products (subject to conditions)
  • the coal sector
  • the road freight transport sector for third parties where the requested aid concerns the acquisition of road freight transport vehicles
  • firms in difficulty according to Regulation 1407/2013 and in accordance with point 18 of Article 2 of Regulation 651/2014

Financing features

1. For business investment plans, the financing amount ranges from €25,000 to €1.500,000. It relates to businesses:

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

The duration varies from 5 to 10 years with a grace period of up to 24 months.

2. For working capital, the financing amount ranges from €10,000 to €500,000. 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 materials, purchase of goods, general expenses, labour costs, etc.)

The duration varies from 2 to 5 years with a grace period of up to 6 months.

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

The expenses excluded from Commission Regulation EC 1407/2014 (de minimis) are not considered eligible.

After taking into account that 40% of the loan is funded by the Entrepreneurship Fund II and without any interest rate, the final interest rate* charged to the customer is variable based on the:

  • Base Loan Rate (BLR) of Piraeus Bank – or the Privilege Loan Rate (PLR)
  • Euribor 1M/3M

* Plus the Law 128/1975 levy (0.60%), which applies for 60% of the loan.

Repayment method:

  • In monthly instalments that pay interest and capital.
  • 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 €4,000 and a minimum of €100.

Disbursements:

One-off or gradual disbursements upon submission of supporting documents.

The final date for the disbursement of these loans is 31.10.2023, 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 Business Financing - Entrepreneurship Fund II and how to get them: