Microloan Recovery Fund for Natural Disasters | NBG

The product at a glance

Purpose of financing

You can receive financing to meet the liquidity needs of your business by submitting a business plan of a maximum 24-month term.

Lower interest rate

A significantly lower interest rate is offered, compared to that of similar loans, thanks to the interest-free HDB co-financing of 75% of the loan.
Please note that the levy under Law 128/75 applies only to the loan amount in which the Bank participates (i.e. 25% of the loan).

Duration of financing

The loan term ranges from 1 to 8 years, including any grace period of up to 6 months.

Loan amount

€3,000 - €25,000

Repayment Method

Repayment is arranged through monthly, 3-month or 6-month amortization instalments. Interest is posted on 30/06 and 31/12 of each year.

Mentoring

Business mentoring and training advisory services are provided under the Program, the cost of which will be subsidized by the Fund up to the amount of €900 per Final Beneficiary TIN (based on the net amount of the service invoice).

Note that the combination of loan and advisory services is MANDATORY.

Detailed information

How do you benefit from the program's financing?

The benefits include:

Favourable pricing, as the business takes advantage of the interest-free contribution on 75% of the funds co-financed by the Fund.
Subsidy of business mentoring and training advisory services.
Only personal collateral is required.

What is the loan's interest rate?

A fixed interest rate for the first 3, 5 or 7 years or floating rate based on 3M Euribor plus interest margin.
If a fixed interest rate is chosen, the duration of the interest rate will be equal to the duration of the loan.

Which aid regime does the program fall under?

The program falls under the De minimis Regulation (EU) 2831/2023.

What collateral is required to get financing?

Only personal collateral is required.

What are the charges of the program?

The charges that apply are detailed in the Bank's Rates & Charges. For more information click here.

Which businesses are eligible?

Micro and small enterprises, as defined in Annex I of Regulation (EU) 651/2014.
They operate legally in Greece (having the necessary operating license, if required).
They are not listed on a regulated stock market.
They must be established, i.e. have a legal form and TIN or have started operations in the case of a sole proprietorship, at least one year prior to the date of submission of the funding application at the PSKE platforms.
They can be of any legal form provided that they exercise business activity as per the List of Legal Forms posted on the HDB site.
They have their headquarters or a branch of the main or secondary activity within the Region of Thessaly prior to submitting a funding application to the OPSKE, regardless of whether they have suffered proven damage from natural phenomena.
They engage in any eligible business activity, as specified in the table of eligible Business Activity Codes (KAD) posted on the HDB site.
They comply with the eligibility criteria and the aid accumulation limits of the De Minimis Regulation.
They meet the requirements of Reg. (EU) 2831/2023 (de minimis).
They are deemed acceptable in terms of credit standing, in line with the Bank’s applicable credit policy and internal procedures.
They have not been subject to collective bankruptcy procedure and do not meet the criteria under Law 4738/2020, as applicable from time to time.
They are not subject to collective insolvency proceedings and do not meet the criteria under domestic law for being placed in collective insolvency proceedings at the request of their creditors.
They are solvent and any existing outstanding debts are not more than ninety (90) days past due as at the date of the funding application and consequently at the signing of the Final Recipient Agreement.
They are not subject to the exclusion criteria of Articles 39 & 40 of Law 4488/17 (A 137/139/17), as amended.
Τhey have no outstanding social insurance or tax obligations, both at the time of submitting the Expression of Interest form via HDB's KYC, and at the loan disbursement phase. If, at the time of submission of the expression of interest form via HDB's KYC the existence of any insolvency data is recorded in the data kept by TIRESIAS SA, these are evaluated by the FIs, in accordance with their applicable credit policy.
No aid-funding claw-back order is pending under a previous decision of the EU Committee or the European Court, by which the said funding has been declared illegal and incompatible.
They have not participated in the Microloans Fund of the TEPIX III Fund through to the date of submission of the application for inclusion in the Fund. If they have participated in any other HDB financing programs that have expired or are still in effect, they have not demonstrated adverse transaction behaviour as regards repayment of their dues (loan termination or debts that are over 90 dpd), or have demonstrated adverse transaction behaviour (loan termination) but have repaid their debts in full before submission of the financing request or, in the case of a guarantee program, the amount of the guarantee has not been paid by the HDB or if the said debt has been verified with the competent Tax Office, and such debt has been included in a rescheduling program which continues to be in force on the date the financing request is submitted.
They are registered in the Register of Beneficial Owners of Article 20 of Law 4557/2018 (A 139), as amended, prior to the date of submission of the funding application. The HDB recognizes the need to comply with the obligations of Annex XVII of the European Regulation 1060/2021 and the need to comply with Directive (EU) 2015/849 (4th Anti-Money Laundering Directive), as incorporated into National Law by Law 4557/2018 "Prevention and Suppression of Money Laundering and Terrorist Financing and Other Provisions", as amended and in force. In case of exemption from the registration with the Beneficial Ownership Register of Article 20 of Law 4557/2018 (A' 139), as in force, they shall provide relevant documentation.
They have completed the self-assessment process for the ESG Criteria in the HDB's ESG Tracker (https://esgtracker.hdb.gr/en/home/#), and they have submitted to the FI at the stage of applying for funding, the ESG Tracker Performance Report in PDF format, which reflects the company's performance regarding these criteria. Alternatively, during the submission of the financing application to the FI, confirmation may be submitted for the completed submission of the self-assessment questionnaire to the ESG Tracker (Submission Confirmation in pdf or e-mail format) with the explicit obligation to submit the ESG Tracker Performance Report through to the signing of the Loan agreement. It is noted that the above ESG Report will not be evaluated by the FI in relation to a Final Recipient Agreement either at the level of ESG criteria or at the level of the Final Recipient credit profile.

Loan in 5 steps

Step 1

Submit your application to the HDB's KYC platform choosing National Bank of Greece as the Cooperation Bank.

See the KYC application submission guide.

Step 2

Submit your self-assessment on the HDB's ESG Tracker.

See the application submission guide.

Step 3

Submit an application to the State Aid Information System (PSKE).

See the application submission guide.

Step 4

With your printed application from the PSKE platform, the proof of submission of the ESG Tracker self-assessment and the other supporting documents necessary for the evaluation of your financing request, visit your NBG Branch or your NBG Relationship Manager.

Your request will be evaluated by the Bank and then sent to the HDB for its consent.

Step 5

If your application is approved, you’ll be duly informed so that you can then visit your NBG Branch to sign your loan agreement. Then the approved amount can be disbursed based on the documents you submit.

ΤΕΠΙΧ ΙΙΙ logo

The loan is offered through the Recovery from Natural Disasters Microloans Fund, which is managed by the Hellenic Development Bank (HDB) and co-funded by the European Union through the “Comptetitiveness 2021-2027” Program.

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Your Business Banking RM 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.

The product at a glance

Purpose of financing

Lower interest rate

Duration of financing

Loan amount

Repayment Method

Mentoring

Detailed information

Loan in 5 steps

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Your Business Banking RM is waiting for you

Always ready to answer any questions you may have