Loans in cooperation with European Investment Fund «EIF Pan European Guarantee Fund (EGF)»

Piraeus Bank in cooperation with the European Investment Fund participates in the EGF Guarantee Instrument and grants loans to support small and medium-sized enterprises with preferential terms and reduced collateral.
IDEAL FOR
Small and Medium Enterprises and Professionals with the aim of enhancing liquidity and the implementation of investment plans
REPAYMENT METHOD
  • In monthly, 3-monthly, 6-monthly or annual instalments that pay interest and capital or capital
INTEREST RATE
Variable

based on Euribor

+ Margin

OTHER FEATURES
  • Fund guarantee for 70% of the loan
  • Favourable pricing for eligible businesses
IDEAL FOR
Small and Medium Enterprises and Professionals with the aim of enhancing liquidity and the implementation of investment plans
REPAYMENT METHOD
  • In monthly, 3-monthly, 6-monthly or annual instalments that pay interest and capital or capital
INTEREST RATE
Variable

based on Euribor

+ Margin

OTHER FEATURES
  • Fund guarantee for 70% of the loan
  • Favourable pricing for eligible businesses

Eligibility criteria

Εligible are the following companies:

  • Very small, small or medium-sized enterprises, i.e. they employ up to 250 employees calculated in annual work units (EMU) and the Turnover of the last closed year does not exceed € 50 million or the Assets does not exceed € 43 million
  • Enterprises that are located, operate and invest in Greek territory
  • Are not an undertaking in difficulty as defined under the Communication 2014/C 249/01

To find out about the eligibility criteria of the program click here

Financing features

Purpose

Funding for Small and Medium Enterprises and Professionals to cover their investment plans or to enhance their liquidity with working capital.

  • Investment loan costs relate to costs of tangible and intangible assets (e.g. purchase of equipment, modernization of facilities, acquisition of software, etc.)
  • Working capital expenditures can meet the current needs of businesses (e.g. purchase of raw materials & goods, salaries, rents, etc.)

Loan Amount & Duration

For Small Business and Professionals (with a turnover of up to € 2.5 million) from € 10.000

  • Investment loan with a duration of 1 to 10 years
  • Working Capital (Amortized Loan) with a duration of 1 to 7 years
  • Open revolving Working Capital with a duration of up to 3 years with annual revision (upon completion of the 3-year period, conversion to an Amortized Loan with a maturity of up to 4 years)
  • Medium size enterprises (companies with Turnover> € 2.5 million- € 50 million):

    Up to €321.400 For companies active in the primary production of agricultural products

    Up to €385.700 For companies active in the field of fisheries and aquaculture

    Up to €2.571.400 For companies operating in other sectors

  • Duration from 3 months to 10 years for Investment Loans and Working Capital
  • Duration for Open revolving Working Capital up to 3 years with annual revision

Grace Period

For Small Business and Professionals (with a turnover of up to € 2.5 million):

  • Investment loan up to 24 months
  • Working Capital (Amortized Loans) up to 8 months

For Medium size enterprises (companies with Turnover> € 2.5 million- € 50 million):

  • Investment loan up to 24 months
  • Working Capital (Amortized Loans) up to 12 months

Currency

Euro (€)

Interest Rate

Variable based on Euribor + Margin

Interest rates are charged with the interest rate margin and the contribution of L.128 / 75 levy, which currently amounts to 0.60% The final interest rate of the customer is formed based on the current pricing policy of the Bank and the assessment of the customer’s Creditworthiness

Repayment method

  1. Small Businesses and Professionals:
    1. Amortized Loans: monthly or 3-monthly repaying interest and capital
    2. Open revolving Working Capital: monthly interest payments with free payments of capital
  2. For Medium Size Enterprises:
    1. Amortized Loans: 3-monthly, 6-monthly or annual instalments that pay interest and capital or capital, such as balloon or bullet repayments
    2. Open revolving Working Capital: 3-monthly interest payments with free payments of capital

Disbursements

One-off or Partial instalments.

The allocation of the Program expires on 31.12.2022, unless the budget of the program is depleted earlier.

Collaterals

Reduced collateral requirements due to the offered guarantee of the EGF Guarantee Instrument

How to get it

To learn more about the EIF Pan European Guarantee Fund (EGF) in cooperation with European Investment Fund and how to get it:



"Final Recipient Transaction benefits from support by the EGF Guarantee Instrument, implemented by the European Investment Bank with the financial backing of the Member States contributing to the EGF".