Fund your investment plans  

Loan amount 25.000€ - 1.500.000€

Term loan with an option of progress payments, according to the investment plan progress, which should be completed within the grace period (maximum 24 months) and in any case up to two months prior to the closing disbursement date of the NSRF (as stands today 31/12/2023).

  • Loan amount: 000€ – 1.500.000€
    Option to submit more than one request from one enterprise, which may not exceed 1,5 m euros in total from the present Subprogram.
  • Loan duration: 5 to 10 years, with the option of a grace period up to 24 months, during which only interest is paid.
  • Interest rate: For the aid covered the Entrepreneurship Fund (pertaining to 40% of the loan) the interest rate is 0%, for the aid covered by the Bank (60% of the loan) the interest rate is floating, approved after the examination of the customer’s request and taking into account their credit rating and submitted securities
  • Law 128/75 Levy: Only for the aid portion covered by the Bank (60% of the total loan), determined today at 0,60%
Eligible enterprises
  • Enterprises included in state aid programs which have not been implemented yet
  • Enterprises not included in state aid programs which have not been implemented yet
  • Micro, small and medium-sized enterprises, according to the Commission Recommendation 2003/361/EU, legally established in Greece (up to 250 employees and €50 m. turnover or €43 m. assets)
  • Enterprises that have no outstanding tax or social security obligations (recovering debt from Central Government Agencies)
  • Enterprises that have received a guarantee from the Hellenic Fund for Entrepreneurship and Development (ETEAN SA) for programs that have been concluded or are still ongoing and keep updated guaranteed loan liabilities
  • Enterprises with eligible NACE CodesEnterprises that do not exceed the highest amount as it is defined by the de minimis Regulation (up to 200.000€ or up to 100.000€ for the transport sector)
Non-eligible Enterprises

Enterprises that:

  • Operate in sectors exempt from the Commission Regulation (EC) 1407/2013 de minimis and more specifically in the following sectors:
    • the fisheries and aquaculture sectors
    • the primary production of agricultural products
    • processing and marketing of agricultural products (subject to conditions), when the amount of the aid is fixed on the basis of the price or quantity of such products purchased from primary producers or put on the market by the undertakings concerned or when the aid is conditional on being partly or entirely passed on to primary producers
    • the coal sector
    • the Media sector (printed media, digital media etc.)
    • the weapons systems sector
  • Have received subsidies declared illegal and incompatible with the common market
  • Have received a letter of guarantee by ETEAN S.A. for programs that are expired or are still running and have due payments for the guaranteed loan
  • Operate in the financial and trading sectors (Banks, Venture Capital companies, Venture-Capital funds, Leasing companies, Factoring companies, Insurance companies, M.F.M.C.s, Investment Funds, Brokerage companies/firms etc.)
  • Are publicly listed
  • Are in difficulty according to Regulation 1407/2013 and in accordance with point 18 of Article 2 of Regulation 651/2014
  • Public Law entities, 1st and 2nd degree local authorities, municipal and state enterprises, public bodies

Exceptions of aids:

  • aid to export-related activities towards third countries or Member States, namely aid directly linked to the quantities exported, to the establishment and operation of a distribution network or to other current expenditure linked to the export activity
  • contingent upon the use of domestic over imported goods
Eligible Expenditure

Invoiced expenses (including VAT) indicated in the enterprises’ investment plan.

Accept documents:

  • Invoices on trade credit that were issued up to six (6) months prior to the loan request by the applicant final beneficiary
  • Partially or fully paid invoices, provided the payment date is posterior to the ETEAN approval decision

Eligible expenditure is financed after a capability of the Bank carries out an inspection concerning the progress of the physical and financial object of the investment.

Non-eligible Expenditure
  • Aid for financial activities, real-estate activities (unless they are part of productive investment) or allow for funding at the final consumer stage/level
  • Aid for export-related activities towards third countries or Member States, namely aid directly linked to the quantities exported, for the establishment and operation of a distribution network or for other current expenditure linked to the export activity
  • Aid for the acquisition of road freight transport vehicles granted to undertakings performing road freight transport for hire or reward and in general aid for expenditure excepted by 1407/2013 EU Regulation (de minimis)
  • Aid granted to undertakings in difficulty

In order to secure the loan, you must provide securities, physical collateral and other eligible forms of collateral.

Especially for physical collateral, it must amount to up 120% of the loan.

The business owner’s permanent and only residence is not earmarked.

Handling cost

It consists an obligation for the borrowed and includes:

  • expenses for the examination of the request, which amount to 0,5% of the original loan (max. amount €4.000, min. amount €100)
  • 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
Useful Info

For further information, interested parties can visit any of the Cooperative Bank of Chania Branches.