Start of operation of the new one TEPIX III Entrepreneurship Fund from 29/5/2024, with a budget of 500 million euros, where it is expected that loans amounting to 2.2 billion euros will be made available to small and medium-sized enterprises - with leverage through the banking system - on particularly favorable terms, expanding the circle of financed SMEs and the perimeter their lending. It is the first time that the combination of the loan guarantee with the interest rate subsidy is provided.
The TEPIX III Entrepreneurship Fund, sponsored by NSRF 2021-2027, consists of two separate Funds: the Guarantee Fund and the Loan Fund.
Specifically:
- The Guarantee Fund, has credit risk protection in the form of a guarantee for all eligible businesses. It offers a guarantee from 70% to 80% in investment loans (from 10,000 euros to 10 million euros), in working capital loans and revolving credit loans (from 10,000 euros to 500,000 euros). It also offers an interest rate subsidy of two percentage points for two years, to businesses in Attica and the South Aegean, and three percentage points to businesses in the remaining Regions of the country. No real collateral will be required for loans up to 50,000 euros.
- The Loan Fund, offers loans, with 40% of the amount interest-free, and an interest subsidy of 3% on the remaining part (60%) for 2 years. In total, the loans provided through the TEPIX III Loan Fund have a reduced interest rate of up to 70% for the first 2 years. The duration of investment loans is 2 to 12 years, with a grace period of up to 24 months. And for working capital from 2 to 5 years, with a grace period of up to 12 months, during which the company does not repay capital but only interest.
The goal is to cover the investment gap created by the economic crisis, improve competitiveness and create new and better-paid jobs for all our fellow citizens.
The Banks participating in the program are the following:
- ALPHA BANK
- EUROBANK
- PIRAEUS BANK
- National Bank
- PAGRITIA BANK
- ATTICA BANK
- OPTIMA BANK
- COOPERATIVE BANK OF THESSALIA
- KARDITSAS COOPERATIVE BANK
- COOPERATIVE BANK OF CHANIA
- EPIRO COOPERATIVE BANK
- AEGEAN BALTIC BANK (only for the Loan Fund)
The conditions of the program are:
- Interested companies should be Very Small, Small and Medium
- Interested businesses should be bank aware
- Interested companies should be tax and insurance aware
- Interested companies must be registered in the Register of Beneficial Beneficiaries
- The businesses concerned should not be problematic
The interested companies, after submitting the application of interest to the bank of their choice, are evaluated by the bank for the possibility of receiving the loan.
For more information you can call tel.: 231 309 7575