Aim of EaSI Program and benefits for financed businesses
The EaSI Program is a financial tool for the provision of guarantees for microfinance up to €25,000 so as to enhance access to bank financing for:
(a) micro-enterprises and professionals (with maximum €2 million turnover and employing fewer than
(b) start-ups in the launch, maturity and growth phases, ; and
(c) professionals, self-employed or micro-enterprises that experience difficulties accessing credit.
Features of the financing program
The key features of loans granted through the program are the following:
Loan purpose: → Working capital
→ Investments in tangible or intangible fixed assets and equipment
Maximum loan amount: €25,000
(a) EaSI - Overdraft Facility (EaSI - Open Business Plan) renewed annually, for a maximum of 5 years, the only obligation being to pay the relevant interest on a monthly basis, with the minimum monthly payment being €50. It can also be granted as Revolving Working Capital (Credit Line) renewed annually and with interest posted on 30/6 and 31/12 each year.
After the lapse of the 5-year term the customer shall enter into an agreement for the loan's full repayment, at the latest within a 12-month period.
(b) EaSI - Working Capital of a permanent nature: for a term of at least 3 months and a maximum of 6 years, with the option of a 3-month grace period. Repayment: Monthly amortization instalments and posting of interest on 30/6 and 31/12 each year.
(c) EaSI - Financing for the purchase of fixed assets: for a term of at least 3 months and a maximum of 6 years, with the option of a 6-month grace period. Repayment: Monthly amortization instalments and posting of interest on 30/6 and 31/12 each year.
The maximum guarantee term is six years as of the execution date of the loan agreement.
Basic floating rate applicable to SME financing, currently 5.85% plus margin and the levy under law 128/75.
The final interest rate (excluding the levy under law 128/75) cannot exceed 8% and it is lower than similar financing from the Bank's own funds by a rate of at least 0.5% thanks to the guarantee provided by EIF.
|Currency: || EUR|
No collateral except for any personal guarantees.
€250/ • For overdraft facilities or revolving working capital (credit lines):
• For fixed-term Loans €250 one-off
Provision of training programs: The beneficiaries included in the EaSI program are offered customized
training programs, and advisory and mentoring services.
- The provision of such programs is obligatory subject to the program's terms and They are implemented by consulting firms selected by the Bank.
The mentor's fees shall be borne by the beneficiary and they are withheld from the loan amount
upon its disbursement.
They are set in line with the company's age and the level considered reasonable in light of the
financing granted and the services provided.
The specific services and programs are customized following discussion and communication with the Mentor and include, for example, some of the topics listed below:
• identification of the needs of the financed business;
• training programs on topics such as Sales Development and Promotion, Business Sustainability and
liquidity and financing;
• e-learning programs
The cost of the services offered, as communicated by the partner companies, is set out below:
|Active years of business ||Amount of financing ||Fee paid |
|Over 3 years (on the application date) ||Regardless of amount ||€210*|
|Up to 3 years (as at date of application)|| Up to €15,000 ||€250*|
| €15,001 – €25,000 ||€350*|