Guarantee Fund for COVID 19 Phase III

The program is open to Very Small Businesses operating legally in Greece, of all types including businesses active in the sectors of agricultural production, fisheries and aquaculture.

The following criteria must be met:

• As at 31.12.2019 they had a Turnover of up to 1,000,000 euros or have been established up to the time of submission of the financing application to the bank
• As at 31.12.2019 they are not considered “problematic” (as mentioned in point 18 of article 2 of Regulation 651/2014)
• They are considered creditworthy in accordance with current credit policy and internal procedures of credit institutions
• They do not have overdue debts over 90 days when submitting application for funding
• They do not meet the reasons for the exclusion of article 40 of law 4488/2017 (Government Gazette 138/139)
• There is no pending recovery order of previous illegal and incompatible state aid based on an EU or WEU decision
• They have not been included in the A 'and B' Cycle of the Guarantee Fund
• In case the enterprise has previously joined HDB (formerly ETEAN) programs that have expired or are in force, should not show adverse transactional behavior in debt repayment, such as a loan complaint 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.

Businesses operating:

• In illegal activities in accordance with Greek and Community law.
• In the production & trade of weapons and ammunition of any kind.
• In the manufacture, processing and marketing of tobacco products
• In research and development of techniques related to online gambling / online casinos / or give illegal access to electronic data networks.
• In research and development or technical applications related to: (i) human cloning for research or therapeutic purposes, (ii) Genetically Modified Organisms ("GMOs")

In addition:

• Holding Companies
• Financial sector enterprises (credit institutions, leasing companies, factoring, payment institutions, credit companies, claim management companies), foreign exchange exchanges, insurance and reinsurance companies, distributors of insurance products as well as financial institutions.
• Public bodies and their subsidiaries, local authorities and their subsidiaries.
• Enterprises based in Non-Collaborative Judgments.