InvestEU SME Competitiveness

The Cooperative Bank of Chania, following an agreement with the European Investment Fund (EIF), participates in the deployment of the InvestEU guarantee program “SME Competitiveness”, aiming to enhance the competitiveness of small and medium-sized enterprises under preferential terms and with reduced collateral requirements.

The program is addressed to SMEs, professionals, and farmers, with the objective of strengthening liquidity and facilitating the implementation of investment plans through preferential pricing, an EIF guarantee covering 80% of the loan, and reduced tangible collateral, not exceeding 50% of the initial loan principal.

Loan Availability Period

Until October 22, 2027, or until the available budget is exhausted, whichever comes first.

Loan Characteristics

Type and Term of Loans Loan Amount Interest Rate

Investment loans with a duration from 1 to 10 years.
Working capital loans with a duration from 1 to 8 years.
Open-end revolving credit with a duration of 48 months, with the option to convert into a working capital loan with a term of up to 48 months.

From €10,000 up to €7,500,000

Based on 3-month Euribor plus margin

Interest rates are additionally subject to the levy imposed by Law 128/75, which currently stands at 0.60% or 0.12%, depending on the applicant’s primary agricultural activity. The customer’s final interest rate is determined based on the Bank’s current pricing policy and the assessment of the customer’s creditworthiness.

Eligible Businesses

General Eligibility Criteria for Businesses under the SME Competitiveness Program:

A Financing Beneficiary under the InvestEU Program is any business that cumulatively meets all of the following conditions:

Very small, small, or medium-sized enterprises (SMEs), i.e. businesses employing up to 250 persons, calculated in annual work units (AWU), and whose turnover in the most recently closed financial year does not exceed €50 million or whose balance sheet total does not exceed €43 million.
Businesses that are headquartered, operate, and will invest within the territory of Greece.
Are not primarily engaged in an Excluded Activity
Do not engage in any form of Illegal Activities
Are not entities designated as Sanctioned Persons or subject to restrictive measures.

For detailed information on the general eligibility criteria for beneficiaries and financing, please refer to the document titled “General Eligibility Criteria of the SME Competitiveness Program.”