Support for the medium, small and micro size Greek enterprises

In collaboration with the Hellenic Development Bank (HDB)

We provide a wide array of financial tools for the support of micro, small and medium-sized enterprises (MSMEs) in Greece, through the introduction of special purpose funds that secure low-cost funding for MSMEs.

In this context, a Capital Fund was introduced with the title “Entrepreneurship Fund II”.
The Cooperative Bank of Chania participates in the Entrepreneurship Fund II “Business Funding”, managed by the Hellenic Development Bank.

Guarantee Fund of Covid-19

Loan amount: It cannot be higher than the following:

  • Up to double of the yearly salary cost of the enterprise (including social security contributions, as well the cost of staff working in the enterprise premises and is officially included in the payroll statements of contractors) for the year 2019. In case of enterprises that launched after January 1st, 2019, the maximum amount must not exceed the estimated yearly salary cost for its first two years of operations or
  • 25% of the total turnover of the enterprise for 2019 or
  • after documentation and based on justification and planning that defines the liquidity needs of the beneficiary, the loan amount may be increased beyond the aforementioned limits, in order to cover liquidity needs starting from the date the loan is granted and for the next 18 months, in case of small-medium enterprises and self-employed individuals or for the next 12 months in cases of large enterprises.


In any case, the loan amount may not exceed 30% of the maximum trading book of the Cooperative Bank of Chania (2.088.600€).


Loan duration: 5 years including grace period, with an option for partial disbursements

Interest rate:Floating, based on the Bank’s Base Loan Rate (BLR); today BLR amounts to 9,90%. Interest rate may not exceed BLR – 3,10%.

Law 128/75 levy: Interest rate is also subject to the Law 128/1975 levy (set today at 0,60% at a yearly basis) for aids that are obliged to pay such a levy

Eligible enterprises:

Every enterprise that operates legally in Greece, except offshore companies; holding companies; financial sector enterprises; public bodies and their subsidiaries; local authorities and their subsidiaries, as long as it meets the following requirements:

  • was not characterized as problematic on 31.12.2019
  • does not conduct a Non-Eligible activity
  • does not have overdue debts for more than 90 days either on the Contract date or on 31.12.2019
  • is considered creditworthy according to the Bank’s current credit policy and internal procedures
  • does not meet the reasons for the exclusion of article 40 of law 4488/2017 (Government Gazette 138/139), as applicable
  • there is no pending recovery of previous illegal and incompatible state aid according to a decision of the EU or the CJEU
  • in case the enterprise has previously joined EAT (formerly ETEAN) programs that have expired or are in force, should not show adverse transactional behavior in debt repayment, such as a loan complaint or relevant overdue debts over ninety (90) days
Eligibility of Contracts:

Contracts signed until 30.06.2022 and under no circumstances concern:

  • refinancing of existing loans or credit debt
  • financing of dividend payments or purchase of shares programs
  • financing of acquisitions and mergers
Non-eligible activities
  • weapons systems production and trade
  • gambling (casino)
  • genetically modified foods
  • illegal activity per national law
  • production, process and trade of tobacco and tobacco products

In order to secure the loan, the enterprise must provide additional collateral besides the guarantee of the Guarantee Fund of Covid-19, only to the degree such collateral is justified in regard to the provisions of the approved by the EU scheme concerning the Fund (SA 56857/3.04.2020, as amended by SA 57048/30.04.2020).

More specifically:

  • Acceptable personal guarantees for the full amount of the loan
  • Tangible collateral covering up to 40%, preferably first lien position, unless the remaining collateral value of the property sufficiently covers funding
  • Other collateral (i.e. cash collateral, assignment of claims etc.)
Handling cost:

It consists an obligation for the borrowed and includes:

  • Expenses for the examination of the request


For this specific category of loans, there is a 30% discount on/over the current approved charges catalogue of the Bank

  • entry fees (lawyer fees, land registration etc.)
  • engineer’s fees for conducting partial certifications/collateral estimation
  • annual fire & earthquake insurance fees for the mortgage property, provided that the aid is secured with a first-rank mortgage
Guarantee Premium:

For the Guaranteed supplied by HDB to the Credit Institution, the HDB will receive a premium from the enterprises, calculated according to the following table:

Final beneficiary / Enterprise 1st year 2nd & 3rd year 4th & 5th year
SΜΕ 0,25 0,50 1,00


Guarantee Premium is calculated based on the contract guaranteed amount, namely 80%, and is fully paid once, taking into account the contractually agreed repayment plan between the Credit Institution and the Bank. The Guarantee Premium will be paid once by the Enterprise to the HDB for the overall duration of the Final Recipient Contract during the first disbursement of the said loan to an HDB account. In case the loan is repaid in full early, any paid premium shall not be returned/reimbursed.

The guarantee premium is subsidized by the Fund for up to:
  • 2.300,000 Euros for enterprises of all sectors, excluding primary sector, fishery and aquaculture
  • 345,000 Euros for enterprises operating in the sectors of fishery and aquaculture
  • 290,000 Euros for enterprises operating in the agriculture sector


For enterprises operating in more than one sectors for which different limits apply, according to the above, it shall ensure, by all appropriate means, such as account separation, that the maximum limit for each of these activities is observed.

In case the guarantee premium of the requested loan exceeds the aforementioned limits, then the surplus will be paid by the enterprise or the loan terms will be adjusted (loan duration or amount).

Accepting Aid related to guarantee premium is not obligatory and lies within the discretion of the Borrower.

Request submission process at the Cooperative Bank of Chania
  • The request is submitted by the enterprise to, where the enterprise fills in the requested information (amount, purpose of aid, contact info etc.) and then selects the Cooperative Bank of Chania
  • Following, the enterprise visits one of the 23 branches of the Cooperative Bank of Chania, in order to get informed on the required documents and then submit a complete dossier, asking the Bank to evaluate/asses its request for aid with the collaboration of the Guarantee Fund of the Hellenic Development Bank