Under the Employment and Social Innovation Programme (“EaSI”), loans are provided with a guarantee from the European Investment Fund (EIF).  Funding is supported by the European Union under the Guarantee Facility set up by the Regulation (EU) No 182/2011. 1296/2013 of the European Parliament and of the Council.

It is addressed to:
  • Individuals and Professionals
  • Existing and established undertakings, regardless of legal form, provided that they are classified as very small


Definition of Micro-Enterprise: Fewer than 10 employees and up to 2,000,000€ turnover in the reference year.

Beneficiary Characteristics
  • Vulnerable social groups, e.g. (a) unemployed or at risk of unemployment, (b) people in social exclusion or at risk of social exclusion, (c) people with difficulty accessing the labour market, who have reduced access to traditional forms of financing e.g. because of the inability to provide collateral, and who wish to either set up or develop their own very small business.
  • Very Small Enterprises either in the start-up or in the development phase, including micro-enterprises that employ one or more people belonging to a vulnerable social group.
  • Non-problematic enterprises, non-bankruptcy proceedings.
  • Non-Activity in Unauthorized Sectors or Illegal Activities: 1. Production, marketing or other activity that is illegal under the Law. (e.g. Human cloning for reproductive purposes is considered an illegal economic activity). 2. Tobacco and distilled alcoholic beverages (Production and marketing of tobacco and distilled alcoholic beverages and related products). Production and marketing of weapons and ammunition. 3.Gambling (Casinos and related businesses). 4. Restrictions in the field of Informatics (Research, development or technical applications related to electronic data programs specifically aimed at: supporting any activity included in the prohibited areas mentioned above (1 to 4), online gambling and casinos or pornography.
  • Permanent residents of Greece or based in Greece.
Loans Characteristics
  • Loan amount: 25,000€ (in 1 or more accounts)
  • Loan type:  Indebted or interest bearing Loans  & Open Revolving Accounts (ORA)
  • How to Pay: Regular installments or Seasonal installments (depending on the activity) with the possibility of a grace period with payment of the interest of the grace period. In ORA  interest is  charged per calendar quarter or semester.
  • Loan purpose: Working capital loans, investment purpose loans
  • Duration: 2-6 years
  • Collateral: No collateral. Guarantees of persons of known solvency are required
Integration Process

The usual Bank procedure for evaluating loan applications is followed.