NBG Loan for SMEs & MidCaps and Agri & Bioeconomy

• One-off working capital financing: 

Financing is available for business obligations related to the operating cycle and arising in the ordinary course of business

• Investment loans for tangible and intangible fixed assets:

Eligible expenses include, among others, the purchase, upgrade, replacement or expansion of tangible assets, Research, Development and Innovation (R&D&I) expenses, and the acquisition of software licences.

Beneficiaries receive a reduced interest rate compared with the annual interest rate that would apply to a similar comparable NBG loan without EIB participation.

Businesses that meet the eligibility criteria under the “Jobs for Youth” Initiative may benefit from an additional interest rate reduction.

To qualify for financing, businesses should meet the following eligibility criteria:

• Registered, operate and primarily invest within the Greek territory, without excluding businesses registered and operating in other EU member states.
• Qualify as SMEs with less than 250 employees in terms of annual work units (AWU); or
• Qualify as MidCaps with minimum 250 and up to  2.999  employees in terms of Annual Work Units (AWU).
• Should not be active in non-eligible sectors.
• Active in eligible NACE (business line code) as listed.

• Maximum loan amount: up to €12,500,000 with a maximum total investment plan budget up to €25,000,000.
• Loan purpose: working capital or investments in tangible or intangible fixed assets 
• Loan term: minimum 2 years, while their maximum term shall not exceed the economic and technical life of the  financed investment (for fixed assets loans).
• repayment method:  in quarterly or semi annual principal instalments with a grace period option of up to two (2) years.
• Base Rate: Euribor (in the event of a negative rate, the value of zero shall apply instead)
• Margin There is a discount on the applicable interest margin compared with the margin that would apply to a  similar NBG loan without EIB participation.
• Exemption from the obligation to pay the charge under Law 128/75 (currently 0.6%). 
• Businesses that meet the eligibility criteria under the “Jobs for Youth” Initiative may benefit from an additional interest rate reduction.
• Frequency at which interest is posted: Interest is posted on 30 June and on 31 December of each year.

Beneficiaries of the “Jobs for Youth” Initiative are businesses that meet one of the following criteria: 

(a) they have employed at least one young person over the last six months, i.e. a person older than 15 and up to 29 years of age on the date on which they obtain the relevant benefit of employment, training or work experience (“Youth Employment” Initiative)” (or 5 in the case of MidCaps) or they plan to employ at least one young person (five in the case of MidCaps) in the next six months (as of the agreement's execution date) and they undertake to maintain such employment for at least one year, and/or

(b) in the last six months they have provided a vocational training or internship position to at least one young person (five in the case of MidCaps) or in the next six months (from the date of signing the agreement) they plan to provide a vocational training or internship position to at least one young person (five in the case of MidCaps). The training/ internship shall last at least three months and is provided for in a valid cooperation agreement with a technical school, university or public employment organisation and/or is confirmed by a letter signed by such Organisations and/or is part of the standard vocational training or internship programme of the business financed hereunder, and/or

(c) in the last six months they have participated in a young entrepreneurship programme of a Non-Governmental Organisation or educational institution, or they plan to participate in such a programme in the next six months.