ESIF ERDF Greece Guarantee Fund - Investment Guarantee Fund

You can obtain working capital or an asset loan with the Fund's guarantee of 80% of the amount.

The product at a glance

Budget and availability period of the program

The program budget is €150.000.000 and the availability period is until 31.12.2023 or until the available funds are exhausted. 

Purpose of funding

You can receive funding to cover the investment needs of your business as well as your more permanent working capital needs for starting, expanding, or strengthening the activities of a business under EU Regulation 1303/2013 (No.37.4).

Loan amount

The loan amount ranges from €10.000 to €1.875.000.

Duration of financing

From 1 to 10 years from the contract's signing date, including the grace period.

Disbursement procedure

Lump-sum or partial disbursements are allowed against vouchers (obligatory within a grace period and not later than 31.12.2023).

Method of repayment

Repayment is made through equal quarterly or semi-annual installments.
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The program in detail

The interest rate is variable based on Euribor 3M (capped at zero in case of a negative rate), to which a margin and a contribution under Law 128/75 are added.

Included in de minimis aid (De Minimis Regulation).

 

 
The usual collateral is required.

The bank's general pricing applies. 

All businesses, irrespective of their legal form, which meet the following criteria are eligible:

  • start-ups, new and existing micro, small and medium-sized enterprises, under Commission Recommendation 2003/361/EC,
  • have not been the subject of collective insolvency proceedings or meet the criteria for being the subject of collective insolvency proceedings under national law at the request of their creditors, as set out in Art. 4.3 (a) of Commission Regulation (EU) No 1407/2013 of 18 December 2013 on the application of Articles 107 and 108 of the Treaty on the Functioning of the European Union to de minimis aid,
  • are potentially economically viable, under the internal assessment procedures applied by the bank,
  • are established and/or operate within the Greek Territory,
  • do not, in the bank's judgment, engage in substantial activity in one or more of the prohibited sectors of activity under the relevant SDR policy,
  • are not in "Exclusion Status." That is : a) it is not in bankruptcy, liquidation, receivership or has not entered into a composition with its creditors, suspended its business activities, been in receivership or in any other analogous proceedings under national laws and regulations during the last five (5) years; b) during the last five (5) years, has not been declared by a final and irrevocable judicial or administrative decision to be in default of payment of taxes or social security contributions under the applicable law and such obligations remain unpaid unless a binding arrangement for payment has been established; (c) during the last five (5) years, the person or persons having powers of representation, decision-making and control, based on a final and irrevocable judicial or administrative decision, have not committed any serious professional misconduct or infringed any legal or regulatory provisions; and (d) during the last five (5) years, the person or persons having powers of representation, decision-making and control, based on a final and irrevocable judicial or administrative decision, have not committed any serious professional misconduct or infringed any legal or regulatory provisions. (i) fraudulently or negligently providing false information in the context of the obligation to submit information required for the verification of the absence of exclusion criteria or the fulfilment of eligibility or selection criteria or in the context of the implementation of a legal commitment/agreement; (ii) entering into an agreement with other persons or undertakings in order to distort competition; (iii) attempting to influence the decisions of the competent authorising officer during the award/grant/award procedure, as defined in Article 2 of the Financial Regulation 2018/1046, as applicable from time to time; iv) attempt to obtain confidential information that may give an unfair advantage during the award/grant/allocation process, as defined in Article 2 of Financial Regulation 2018/1046, as applicable from time to time; d) In the last five (5) years, it has not been established by a final and irrevocable court decision that the persons having the power/authority to represent, decide and control the undertaking have committed any of the following acts: fraud, bribery, participation in a criminal organisation, money laundering or financing of terrorism, terrorist offences or offences related to terrorist activities, or instigating, aiding, abetting or attempting to commit any of the above offences, child labour or other criminal acts related to trafficking in human beings; e) the company is not included in the published exclusion and/or penalty list of the database of the Early Warning and Tracing System of the EU (EDES database), which is managed by the European Commission, 
  • are eligible under Commission Regulation (EU) No 1407/2013 of 18 December 2013 on the application of Articles 107 and 108 of the Treaty on the Functioning of the European Union to de minimis aid (De minimis Regulation),
  • are not firms in difficulty as defined in Communication 2014/C 249/01,
  • are not established in a "non-cooperating jurisdiction." "Non-cooperating jurisdiction" means any jurisdiction that does not cooperate with the European Union in relation to the application of the internationally agreed tax standard (i.e., any jurisdiction identified as non-compliant by the Organisation for Economic Cooperation and Development (OECD) and the World Forum on Transparency and Exchange of Information for Tax Purposes, unless otherwise notified by the ETF) as well as those set out in the Annex to Commission Delegated Regulation (EU) 2016/1675 of the Commission Decision of 14 July 2016 on 'supplementing Directive (EU) 2015/849 of the European Parliament and the Council with regard to the designation of high-risk third countries with strategic deficiencies,
  • the undertaking or the persons responsible for the representation, decision-making and control have not been sanctioned under Article 215 of the Treaty on the Functioning of the European Union.
 

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 submitting your application to the PSCE, 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 carry out a credit check for 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 have signed the contract, we will make the disbursement in accordance with the supporting documents.

National Bank of Greece in collaboration with the EIF, participates in the EEGGF, financing investments by Small and Medium-sized enterprises operating in Greece. The ESIF ERDF Greece Guarantee Fund “EEGGF is co-financed by Greece and the European Union / European Regional Development Fund, through the EPAnEK Operational Programme. The objective of the EEGGF is to improve access to finance for SMEs, through loss protection provided by the EIF Guarantee to newly originated loans or finance leases for eligible SMEs in Greece.

Discover more financing solutions

Get access to more financing solutions for your business, such as Leasing.

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