ESIF EAFRD Greece of the Rural Development Guarantee Fund

Τhe product at a glance

Purpose of financing

You can receive financing for the implementation of your business's investment projects as well as working capital linked to the said financing, for expenses that are directly linked to the implementation of the investment plan.

Preferential interest rate

The program is offered at a significantly reduced interest rate compared to that of similar loans, thanks to the guarantee offered by the European Investment Fund (EIF), and in addition the interest rate of 5% is subsidized for the first 5 years of the loan, subject to conditions.

Repayment Method

The loan principal shall be repaid in equal quarterly or semi-annual amortization installments. Interest shall be calculated on June 30 and December 31 of each year.

Duration of financing

You can repay the loan over a period of up to 12 years, including any grace period of up to 12 months and up to 18 months in case of construction of business premises or implementation of an investment included in a subsidy program. The linked working capital can be valid for a period from 12 up to 60 months, including any grace period of up to 6 months.

Maximum loan amount

You may get a loan for fixed assets ranging from €10,000 up to €5,000,000 and a linked working capital from €10,000 up to €200,000 or 30% of the total cost of the investment, whichever amount is the highest.

Implementation deadlines

Disbursements shall be carried out in a lump sum or in tranches upon submission of supporting documents eligible for financing and at the latest up to 31 December 2025.

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Detailed information

How do you benefit from the program's financing?

Favorable pricing in comparison to the applicable pricing offered by the Bank for creditors of the same credit rating due to the guarantee of the EIF
Interest Subsidy up to 5% for the first 5 years of the loan, subject to conditions
Zero guarantee fee.

“The financing benefits from the guarantee provided by the Agricultural Development Guarantee Fund, which is financed through capitals of the Hellenic State, the European Agricultural Fund for Rural Development, and the European Fund for Strategic Investments (EFSI). The objective of the Agricultural Development Guarantee Fund is to facilitate farmers, livestock breeders, and manufacturing enterprises access financing, under favourable conditions, with a view to enabling the development of their holdings or businesses, while at the same time contributing to Greece’s economic growth through the creation of new job positions and the development of rural Greece.”

Do I need to supply collateral in order to be financed?

The usual collateral (personal/real) can be required.

What fees will I have to pay, and when will they be charged?

for fixed asset loans, €350 one-off fee, and in the event of financing under the program linked with a working capital loan, a 50% discount is granted.
for linked working capital loans: €175 one-off fee

Is my loan subject to an aid regime?

The EIF guarantee and the interest rate subsidy generate corresponding Gross Grant Equivalent (GGE). However, the said subsidy is not granted under the De Minimis Aid Regulation and therefore is not accumulated with other aid granted under that framework.

Which actions can I participate in, if I meet the eligibility criteria?

In the event of investment projects included in a subsidy program, you may be financed with a loan for fixed assets as part of the private participation provided for in the investment’s financing scheme.

As beneficiaries of the program, you may choose to participate in:

1. Action 4.1.4 “Implementation of investments contributing to the competitiveness of the holdings”, which includes investment projects of farmers that have participated in measures of the RDP 2014-2020 (e.g. Improvement Plans) or implement related investments.

2. Action 4.2.4 “Processing, marketing and development with a final product (agricultural product)”, which includes investment projects of businesses that have been included in measures of the RDP 2014-2020 (e.g. Processing of Agricultural Products) or implement related investments.

Loan in 4 steps

Step 1: Submit your application

Type www.ependyseis.gr to submit your State Aid Information System application.

Step 2: Visit the shop

After the final submission of your application to the SAIS, you will need to visit one of our branches to get information, provide us with the necessary documents and submit your application to the bank.

Step 3: We assess your application

After studying your documents, we will check the rationale of the investment cost and the creditworthiness of your business.

Step 4: We disburse your loan

If your application is approved, you will need to visit your partner branch to sign the loan agreement. After you sign the contract, we will make the disbursement upon presentation of the necessary expense vouchers.

“The Agricultural Guarantee Fund is co-financed by the Hellenic Republic, the European Union under the European Agricultural Fund for Rural Development (EAFRD), and the European Fund for Strategic Investments (EFSI). Europe invests in rural areas.”

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