HDB-EPWCF GUARANTEE FUND

If your business operates in an eligible sector and has undertaken the execution of works and/ or studies of public interest, you can obtain working capital financing backed by the HDB-EPWCF Guarantee Fund of the Hellenic Development Bank.

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 product at a glance

Purpose of financing

The purpose of financing concerns exclusively the granting of one-off working capital loans for the execution of contracted works and/or studies of public interest to eligible SMEs under the guarantee of the Fund at a rate of 80%.

Reduced interest rate

The financing is offered at a reduced interest rate compared to the respective NBG loans, thanks to the guarantee of the HDB—EPWCF Guarantee Fund at a rate of 80%.

Financing duration

You can repay the loan over a period of 1 to 5 years, including any grace period of up to 12 months.

Maximum Loan Amount

This is determined on the basis of the year of the business's establishment (in or before 2019 and after 2019), and, in any case, the maximum loan amount that the business can receive is € 200,000 in total.

Repayment Method

Repayment is arranged through 3-month or 6-month amortization installments.

Implementation deadlines

Disbursements shall be carried out in a lump sum or tranches by 30 June 2022 at the latest.
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Detailed information

The maximum loan amount is either € 200,000 or any of the amounts set out hereinbelow, whichever is the lowest:

  • For businesses established in or before 2019:  

(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 

  • In the case of start-ups, i.e., which have been set up after 2019, up to 100% of the amount arising from the liquidity needs that the borrower must meet as of the date of the loan disbursement and for the next 18 months, and which must be evidenced with adequate justification and documentation. 

 

 

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.

 

 
The bank's usual Rates & Charges shall apply. For more information, click here.
HDB-EPWCF Guarantee Fund guarantees are part of the "Temporary Framework for State aid measures to support the economy in the current COVID-19 outbreak".
In any case, €200,000 is the maximum loan amount that the business can receive in total, regardless of the number of applications submitted to all participating Banks.

Loan in 4 steps

Step 1: Submit your application
Type www.ependyseis.gr to submit your application to the State Aid Information System (PSKE).
Step 2: Visit a branch
After submitting your request to PSKE, you'll need to visit one of our branches to find out more and provide us with the required documentation and submit your application to the bank.
Step 3: We assess your application

 After reviewing your supporting documents, we will check the eligibility and credit standing of your business. 

Step 4: Disbursement
Once your application has been approved by NBG and the HDB, you will need to visit your local branch to sign the relevant loan agreement.

Discover other business financing options

Get access to other financing for your business, such as the Loans guaranteed by the Covid-19 Business Guarantee Fund (Round 3)

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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