Invest EU Microfinance loans for very small enterprises

Piraeus Bank in cooperation with the European Investment Fund, offers the financing of the guarantee Fund InvestEU Microfinance to enhance the competitiveness of Very Small Enterprises, on preferential terms and no additional collaterals.
IDEAL FOR

Very Small Enterprises, professionals and farmers aiming to enhance their liquidity and implement investment plans.
REPAYMENT METHOD
  • monthly
  • quarterly
  • semi - annual
  • annual installments that pay principal & interest
  • only interest payments for revolving credits
INTEREST RATE
Variable based on BLR, BMLR, BRF

+ spread
OTHER FEATURES
  • Favourable pricing for eligible businesses
  • EIF Guarantee for 80% of the loan amount
  • No additional collaterals
IDEAL FOR

Very Small Enterprises, professionals and farmers aiming to enhance their liquidity and implement investment plans.

REPAYMENT METHOD
  • monthly
  • quarterly
  • semi - annual
  • annual installments that pay principal & interest
  • only interest payments for revolving credits
INTEREST RATE
Variable based on BLR, BMLR, BRF

+ spread
OTHER FEATURES
  • Favourable pricing for eligible businesses
  • EIF Guarantee for 80% of the loan amount
  • No additional collaterals

Eligibility criteria

Eligible companies are the ones that meet the following criteria:

  • Very Small Enterprises, i.e. they employ up to 10 employees calculated in annual work units (EMU) and the Turnover of the last closed year or the Assets do not exceed €2 million.
  • Companies that are based, operate and will invest within the Greek territory
  • do not operate on one or more Restricted Sectors, as descripted below
  • They are not involved in Illegal Activities.
  • They are not Sanctioned Persons

For the eligibility criteria of the program please click here (available only in Greek)

Features

Purpose

Funding for Very Small Companies, Professionals and farmers to cover their investment plans or to enhance their liquidity with working capital.

  • Investment loan expenditures 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

Loan amount up to €50.000

Especially for Small Businesses (with turnover up to €2,5 million) from €5.000 and for Farmers from €1.000

Loan Duration

  • Investment loan: tenor from 1 to 10 years
  • Working Capital:

    • –  Small Businesses (with turnover up to €2,5 million) tenor from 1 to 8 years
    –  Farmers tenor from 1 to 10years

  • Revolving Credit for Working Capital with tenor of 4 (upon maturity, possibility of conversion into Term Loans, for additional 6 years, while the guarantee remains in force, with a maximum total term of 10 years.)

Grace Period

  • Up to 1 year for working capital
  • Up to 2 years for investment loans

Currency

Euro (€)

Interest Rate

Variable based on BLR, PLR, BLF or Euribor + spread

The interest rates are charged with the interest margin and the contribution of L.128 / 75, which currently amounts to 0.60% or 0,12% depending on the main economic farming activity. The customer's final interest rate is determined on the basis of an assessment of its Creditworthiness.

Repayment

Small Businesses (with turnover up to €2,5 million):

  • Term Loans: Monthly installments (capital and interest)
  • Revolving Credit for Working Capital: Monthly interest payments and free capital payments

Farmers:

  • Term Loans: Monthly, quarterly, semi-annual or annual installments (capital and interest)
  • Revolving Credit for Working Capital: Monthly, quarterly, semi-annual or annual interest payments and free capital payments

Disbursements

One-off or Partial instalments.

Early repayment

Early partial or full repayment is possible without any charge.

The capital repaid cannot be refinanced, except for the case of revolving loans.

Collateral

Personal guarantees.

Availability Period

The availability period is until 08.01.2027, or earlier if the budget is being absorbed.

How to get it

To learn more about Loans in cooperation with European Investment Fund under the “InvestEU Microfinance” as well as about the process of their acquisition :


“Final Recipient Transaction benefits from support from the European Union under the InvestEU Fund.”