Within the framework of the action, high-budget projects will be financed aiming at enhancing entrepreneurship and competitiveness of businesses in the Region of the Peloponnese, while contributing to boosting employment in the region. Particular emphasis, through the graded evaluation criteria of the action, is placed on the sectors that emerged from the Business Discovery Process 2021-2027 in the Region of the Peloponnese, as well as on the innovative character of the investment plans.

Action in detail

The Public Expenditure of the Action amounts to €17,500,000 and includes aid under Regulation (EU) No 651/2014 (GBER).
The subsidized budget of each investment plan can range from €600,000 to €5,000,000. The percentage of state funding can reach from 50% to 75% of the subsidized budget of the funding application.
The aid rate is determined by the size of the company, the type of aid and the category of expenditure.  
Funding applications with a submitted budget of less than €600,000 cannot be submitted. If the investment plan includes expenditures that cumulatively exceed €5,000,000, the excess amount is considered in its entirety as private participation. 
Note that the entire investment plan, including the excess costs, is subject to evaluation, monitoring and audit.
 
Existing micro, small and medium-sized enterprises in the Region of the Peloponnese that intend to implement an investment plan related to at least one of the eligible activities (KAD [business activity code]), as detailed in the Action's Call, Exclusively under one of the following forms of businesses:
General Partnership (O.E.), Limited Partnership (E.E.), Limited Partnership (E.E.) by Shares, Limited Liability Company (Ltd.), Single-Member Limited Liability Company, Société Anonyme (S.A.), Single-Member Société Anonyme, Private Capital Company (I.K.E.), Single Member Private Capital Company.
 
  • The potential beneficiary has filed the commencement of its business operations with the competent Tax Office before 01/01/2023.
  • The potential beneficiary must submit one and only funding application in the context of this call for action (one application per VAT number). 
  • The potential beneficiary is not an undertaking in difficulty, according to Regulation (EU) 651/2014. 
  • The proposed investment plan meets the conditions of Regulation (EU) 651/2014 (GBER).
  • The proposed investment plan is financially viable and specifically:  i. the financial contribution of the beneficiary of the aid amounts to at least 25% of the total eligible costs, through own resources or external financing, and the potential beneficiary has submitted the relevant supporting documents; ii. The potential beneficiary shall prove that it is solvent and submit the relevant creditworthiness documents; iii. The potential beneficiary submits a business plan certifying the future viability of the investment, which plan is deemed realistic.
  • The potential beneficiary has not relocated, in the two years prior to the aid application, to the business premises where the initial investment for which aid is requested will take place and undertakes not to do so within a maximum period of two years as of completion of the initial investment for which aid is requested.
  • The potential beneficiary keeps Single-entry or Double-entry account books pursuant to Law 4308/2014, as in force. 
  • The potential beneficiary operates legally by having the appropriate licensing document, in accordance with the applicable legislation and their activity.
  • The potential beneficiary has been registered in the Beneficial Ownership Register of Article 20 Law 4557/2018 (A' 139), as in force.
  • The potential beneficiary is not an offshore company.
  • There is no pending procedure for the clawback of aid against the potential beneficiary following a previous decision of the European Commission, under which any aid previously granted by the same Member State has been declared illegal or incompatible with the internal market.
  • The potential beneficiary undertakes that there are no grounds for exclusion under article 39, par. 1-4 and article 40 of Law 4488/2017 (A137/13.09.2017).
  • The potential beneficiary undertakes that the investment plan is not carried out on the initiative and on behalf of the Government, on the basis of a relevant contract for the execution of a project, concession or provision of services. 
  • The potential beneficiary undertakes that the entire investment plan and/or the various individual costs included in the specific funding application:
    •  Have not been included in any other action financed through national or EU funds. 
    • Do not constitute approved expenditure of an investment project included in another action financed through national or EU funds.
    • If approval is carried out and for the period that constitutes approved expenditure of the investment plan to be implemented, they will not be submitted for inclusion or certification in an investment plan of any other action financed by national or EU funds. 
  • The potential beneficiary has received rescue aid, has repaid the loan and the guarantee agreement has been terminated, or if the beneficiary has received restructuring aid, such restructuring has been completed.
  • The overall score of the funding application has to be equal to or higher than 50 points.
 
The main expenses covered by the Program relate to:
Staff costs
Costs of Equipment, Means of Transport & Instruments
Expenses for Buildings, Land, Facilities & Surrounding Area
Expenses for the Provision of Services
Software Costs
Note that: The start date of the expenditure eligibility is the date of online submission of the Funding Application.
The eligible costs are described in detail in the Call file.
 
The aid intensity depends on the type of investment plan (single investment plan), the size of the business (at group level), and the expenditure support regime pursuant to the applicable article of Regulation (EU) No 651/2014.

For expenditures supported pursuant to article 14 of Regulation (EU) No 651/2014, different aid rates apply ranging from 50% to 70% depending on the size of the company (potential beneficiary) and the geographical area stated as the implementation area of the investment plan 

For expenditures other than regional aid, a uniform aid rate is provided for ranging from 50% to 75% depending on the eligible costs of the investment plan, regardless of the implementation area of the investment plan. 
 

WHAT WE DO FOR YOU

Contact your Business Banking Relationship Manager at NBG today   (Business Banking RM) and find out about our financial products and the tools we offer for the implementation of your growth plans.

AT THE INVESTMENT APPLICATION PHASE 
Before final submission of the application to the ISAMIS system, we explore the option to finance your business's own participation (loan approval or pre-approval or loan intention). 
AT THE IMPLEMENTATION PHASE OF THE INVESTMENT BY MEANS OF THE PROGRAM
Issue of a Letter of Guarantee for Advance Payment of up to 40% of the state funding.
Short-term Bridge Financing.
Support in finding the appropriate financial tool to cover private participation, depending on the needs of your business.

 

 
 
 

 

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