The financing of the the submitted innovation business plans of eligible innovative small and medium-sized enterprises
Eligible, under the Fund, are the costs related to the Company's investment plan either purely investment costs or a combination of investment costs and working capital as part of the investment plan, or pure working capital provided that it is certified as an innovation cost.
From €25.000 up to €400.000
Duration of Finance
Loan duration varies from 1 up to 10 years.
For Small Businesses and Professionals (Turnover ≤ € 2.5 million):
Monthly or quarterly installments repaying principal and interest combined
For Medium Enterprises (€ 2.5 million <turnover ≤ € 50 million):
Monthly, 3-monthly, 6- monthly or annual instalments repaying principal and interest combined or principal and interest apart.
Grant Percentage (as repayment of the outstanding loan principal):
- 15% on the disbursed amount if Innovation criteria are met and
- 5% on the disbursed amount if ESG criteria are met
The fulfilment of these criteria must have been implemented within 12 to 36 months from the 1st disbursement of the loan.
The Grace Period
From 1 to 3 years.
Variable based on Euribor 1Μ/3Μ/6M/12M
The interest rate is charged with the interest margin and the Levy of L.128 / 75, which currently amounts to 0.60% (where this is provided).
The final interest rate of the customer is formed by the Bank in accordance with its current credit & pricing policy.
Early repayment option
Option for early partial or full repayment without penalty.
In case of early repayment, in order to be able to receive the subsidy, the remaining loan balance must in any case be greater than or equal to the amount of the eligible subsidy.
0,5% of the initial amount of the loan with a maximum amount of €1,200.
Guarantee fee is 100% subsidized by HDB.
Reduced collateral requirements due to the guarantee provided by the Innovation Guarantee Fund.
Option of lump sum or gradual disbursements.
Gradual disbursements must be completed within the grace period and in any case before 31/12/2025.
The Program will be available up to December 31, 2025 unless its budget runs out earlier.