Business Finance Entrepreneurship Fund II

Grow your business with investment loans and with financing to purchase equipment and to implement your investment plan.

The Program at a glance

Purpose of Funding

You can be financed for all the needs of your business investment projects up to a maximum of 75% of the investment budget.

Reduced interest rate

You can obtain interest-free financing at 40% of the loan principal, thanks to the co-financing of the Hellenic Development Bank S.A. (HDB).

Submission of several requests

If you have different investment projects that differ in terms of their purpose of financing, you can submit more than one application to obtain the co-financed investment purpose loan. In total, they cannot exceed €1,500,000.  

Duration of financing

From 5 to 10 years, including a grace period of up to 36 months.

Method of repayment

Repayment is made through equal quarterly or semi-annual installments.

Deadlines for implementation

Disbursements shall be made in one lump sum or in installments within 24 months of signing the contract and in any case no later than 31/10/2023.
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NBG's digital transformation always takes mature and stable steps. This way it becomes a catalyst for us, aiding our operations.
Gianna Ioannidou
Managing Director at All Web Solution SA

Detailed information

You can submit your application(s) for a co-financed investment loan of €25,000 to €1,500,000. However, you should be aware that in the case of multiple applications, the sum of the amount of approved loans per company in all sub-programs of the "Business Finance - Entrepreneurship Fund II" action - including any inactive ones - cannot exceed €1.500.000.
The usual collateral is required. The coverage rate cannot exceed 120% of the loan amount as agreed in the loan agreement for collateral. 
Exception: the permanent and sole residence of the borrower is not mortgaged, if the borrower is a natural person.
You will need to pay a lump sum of 0.5% of the loan amount as stated in the contract, with a lesser amount of €100 and a greater amount of €4,000, which is collected on the day the contract is signed.
It is included in Commission Regulation (EU) 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.

Eligible enterprises are those which meet the following criteria:

  • They are newly established, new and existing micro, small and medium-sized enterprises according to Commission Recommendation 2003/361/E.C., i.e., employing up to 250 employees calculated in annual work units (AWU) and the Turnover of the last closed financial year does not exceed €50.000.000, or the Assets do not exceed €43.000.000.
  • They operate legally in Greece.
  • They do not fall within the cases listed in the following section 'Ineligible enterprises.'
  • They show no inconsistency in an HDB loan. 
  • They are tax and insurance compliant (checked at the time of the loan disbursement).

Not eligible for inclusion in this action are enterprises that are active:

  1. In the fisheries and aquaculture sectors covered by Council Regulation (E.C.) No 104/2000
  2. In the primary production of agricultural products as listed in the table in Annex I (former Annex II) to Article 32 (former Article 38) of the Treaty of the European Union, as in force.
  3. In the processing and marketing of agricultural products, in the following cases:
    i. Where the amount of aid is determined on the basis of the price or quantity of such products sold by primary producers or placed on the market by the undertakings concerned.
    ιι. Where the aid is accompanied by an obligation to pay all or part of the aid to primary producers.
  4. In the media/communication sector (print, electronic, etc.).
  5. In the weapons systems sector. 

Aid is also excluded:

  1. when concerning exports to third countries or Member States, aid is directly linked to the quantities exported, the establishment and operation of a distribution network, or other current expenditure linked to the export activity.
  2. for which the use of domestic goods instead of imported goods is made a condition. 

Also excluded:

  • Undertakings in respect of which a recovery order is pending following a previous Commission decision declaring the aid illegal and incompatible with the common market.
  • Enterprises that have received the guarantee of ETEAN SA in programs that have expired or are in force and show inconsistency (maturity) in the guaranteed loan and those enterprises that have received a loan with the participation of the Entrepreneurship Fund I show inconsistency (maturity).
  • Legal persons under public law, Local Authorities of 1st and 2nd degree, Municipal and Public Enterprises, Public Organizations.
  • Companies in the Financial and Financial Sector (Banks, Venture Capital Companies, Venture Capital Companies, Venture Capital Companies, Leasing Companies, Leasing Companies, Factoring Companies, Insurance Companies, AEDAK, AIFC, ELDE, etc.).
  • Legal persons or associations of persons or companies of a non-profit nature (associations, clubs, clubs, groups, NGOs, etc.).
  • Companies listed on the stock exchange.
  • Firms in difficulty, for which the control is carried out on the basis of a distressed situation in accordance with Regulation 1407/2013 and in accordance with point 18 of Article 2 of Regulation 651/2014. 
  • Enterprises for which there are grounds for exclusion under Article 40 of Law 4488/17 (A 137/139/17), as in force

Loan in 4 steps

Step 1: Submit your application
Visit and submit your application to the State Aid Information System.
Step 2: Visit an NBG branch
After the final submission of your application to the PSCE, you will need to visit an NBG branch to get information, provide us with the necessary documents and submit your application.
Step 3: We assess your application
After reviewing your documents, we will check the rationale of the investment cost and the creditworthiness of your business. 
Step 4: Loan disbursement
If your application is approved by both NBG and the Hellenic Development Bank, you will need to visit your partner branch to sign the relevant loan agreement. Once the financing agreement is signed, the approved amount is disbursed to the current account you maintain with NBG upon presenting the necessary expense vouchers.

Discover more financing solutions

Get access to more financing solutions for your business, such as Loans Backed by the Covid-19 Loan Guarantee Fund (3rd Cycle).

Learn more

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Manage your accounts and cards easily, quickly and safely using our app.  Keep on top of your finances, take advantage of smart alerts and a host of online options such as getting accounts, cards, insurance products or an Express loan.
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Your Business Advisor will propose ideas and provide you with guidance on the options that best suit your needs. With their direct support and specialized knowledge, you can define your goals and set up the right plan to achieve them.

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