The guarantee is provided by the HDB-EPWCF Guarantee Fund of HDB, which is co-funded
by the Greek State and the Engineers and Public Works Contractors Fund (EPWCF).
The maximum loan amount is either € 200,000 or any of the amounts set out hereinbelow, whichever is the lowest:
(i) double the annual payroll cost of the business for 2019. In the case of businesses established after 1 January 2019, the maximum loan amount shall not exceed the estimated annual payroll cost for the first two years of operation or
(ii) 25% of the total turnover of the business during the year 2019
The usual personal securities (guarantees of Individuals) can be used.
Real collateral can also be provided (pledge of deposits, cheques/ bills of exchange, mortgage prenotation, etc.) at a rate that can not exceed 40% of the financing amount.
SMEs, including self-employed professionals, are eligible provided that they meet the following criteria:
A) Architects and engineers and related activities for the provision of technical advice (KAD 71.1), other than studies and supervision services provided by naval architects (KAD 220.127.116.11).
B) Technical testing and analysis services (KAD 71.2), other than Inspection and other testing services for ships (KAD 71.20.19.05)
C) Building construction (KAD 41)
D) Civil engineer works (KAD 42)
Ε) Specialized construction activities (KAD 43) other than alarm installation services for properties (fire, anti-theft systems, etc.) (KAD 43.21.10.05), telecommunications cabling and network installation services (KAD 43.21.10.06), repair and maintenance services for lifts (KAD 43.29.19.02), repair and maintenance services for escalators and moving walkways (KAD 43.29.19.03), installation services for escalators and moving walkways (KAD 43.29.19.04), installation, repair and maintenance services for revolving and automatic doors (KAD 43.29.19.05), plastic coating services for swimming pool tanks, etc. (KAD 43.99.90.08).
F) Research and experimental development in the natural sciences and engineering (KAD 72.1)
To evidence this criterion, the business must provide an agreement assigning public works, studies, or technical and other related scientific services, in which the same is the contractor, while the contracting authority is subject to the Public Procurement law governing the agreement, regardless of the stage of the works or study.
In the case of subcontracting, the business must submit an agreement or private contract to evidence its association with the implementation of a Public Procurement, as well as the agreement by which a public project, study or technical and other related scientific services is awarded, regardless of the stage of the works or study.
In the case of intention to enter into an agreement for the execution of works and/or studies of public interest, the business must provide proof of a bid submitted in a tender process for the assignment of a project and/or a study of public interest or the Memorandum of Understanding (MOU) in cases of direct award.
It should be noted that:
If the client has submitted an expression of interest to undertake a new public project, the procedure for the assignment of a project and/or study of public interest should not have been finalized by the date of the application for financing, which will be certified by a relevant Solemn Declaration from the client.
“Public procurements” and “contracts for works, studies, services and supplies" mean contracts as defined in Law 4412/2016 or Law 4782/2021 or Law 3316/2005, provided that the respective law on public procurements was in force at the time they were signed.
After reviewing your supporting documents, we will check the eligibility and credit standing of your business.
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