The Ministry   Contact   Sitemap


  • Ελληνικά
  • English

Low Interest Rate Development Loan/Public Guarantee

Last update: 11/03/2020

Development Loans are loans tailored to support business investment plans. Eligible expenditure may relate to the purchase of tangible or intangible fixed assets and expenditure for the modernization of machinery and professional equipment. The minimum maturity of such a loan is usually one or two years while a longer grace and repayment period is granted, in comparison to short-term loans.

Subsidized issued loans have favourable terms such as lower - than the market - interest rate, longer grace and repayment period. Additionally, participating banks request reduced collateral (cash, tangible or personal guarantees) due to the guarantees or funds provided by public or EU institutions.


Available Programmes and Participating Financial Institutions


Credit Guarantee Scheme for Audiovisual Production Producers - HELLENIC DEVELOPMENT BANK SA (formerly ETEAN SA)

The program aims to strengthen the liquidity of the country's companies operating in the audiovisual production sector, including digital games. The goal of the Program is to provide a guarantee of 80% on the loan, for loans or for investment purposes or for business development.

The specific objectives of the Program are: (a) to improve the accessibility of the SMEs of the eligible sectors in order to meet working capital needs and furthermore for medium-term investments; (b) the reduction, as far as possible, of the borrowing costs of SMEs, (c) facilitating the repayment of loans by providing favorable repayment terms (grace period and loan repayment period).

Eligible are listed companies (newly registered and existing micro, small and medium enterprises) of any legal form, which operate to the following national activity codes:

  • Cinema, video and television production activities (59.11),
  • Activities accompanying the production of films, videos and television programs (59.12),
  • Production of computer game software prototypes (62.01.21).

The Program is implemented in accordance with Commission Regulation (EU) No 1407/2013 of 18 December 2013 on the application of Articles 107 and 108 of the Treaty on the Functioning of the European Union (de minimis aid).


* New * Entrepreneurship Fund II (ΤΕΠΙΧ II) - Action "Business Financing" (in Greek)

The “Business Financing” Action aims to promote entrepreneurship, facilitate the access of micro, small and medium-sized enterprises to financing mechanisms, and strengthen the country's investment activity. According to the rules of this Action, 40% of each loan’s capital is granted by the Entrepreneurship Fund II which reduces the interest rate offered to SMEs up to 40% compared to the interest rate given under the market’s conditions.

Public resources of the Action amount up to EUR 366 million, provided by the Entrepreneurship Fund II, which was funded for this purpose by the Operational Program "Competitiveness, Entrepreneurship, Innovation" (EPAnEK) of NSRF 2014-2020. In addition to the capital from the Entrepreneurship Fund II, the co-operating banks contribute 60% of each loan which results a co-investment ratio of 1.5 (co-operating bank): 1 (TEX II) to the total capital (sum of public and private sources) of “Business Financing” Action.

Eligible to apply for inclusion in the Action are recently created, new and existing micro, small and medium-sized enterprises (SMEs) included to the eligible economic sectors which are developing sustainable business activity in the Greek territory.

Loan Characteristics

The offered loans are of two types:

1. Working capital loans of € 10,000 to € 500,000 for special purposes with a repayment period of up to 60 months and a grace period of up to 6 months.

2. Investment loans of € 25,000 to € 1,500,000 with a repayment period of 5-10 years and a grace period of up to 2 years. Loans concerned are either for independent projects or for investment projects that have been included in state aid programs and have not been implemented.

Cooperating banks:

NATIONAL BANK (in Greek), PIRAEUS BANK, ALPHA BANK, EFG EUROBANK, BANK OF ATTICA (in Greek), PANCRETAN Cooperative Bank, Cooperative Bank of Epirus (in Greek), Thessaly Cooperative Bank (in Greek), Cooperative Bank of KARDITSA (in Greek), COOPERATIVE BANK OF CHANIA (in Greek), COOPERATIVE BANK OF DRAMA (in Greek).

Interested companies/potential beneficiaries must submit their loan requests to the following link: .Afterwards interested companies/potential beneficiaries should submit a physical file to one of the cooperating banks to the "Business Financing" Action.


* New * Intermediate Entrepreneurship Fund (in Greek)

Loans to SMEs offering low interest rate and grace period due to co-financing by the  Entrepreneurship Fund.

More information on the Press Release (in Greek).

Participating Banks:

National Bank of Greece (in greek), Alpha Bank, Piraeus Bank, Eurobank, Attica BankPancreta BankBank of Thessaly (in greek), Epirus Bank (in greek), Bank of Karditsa (in greek), Bank of Chania (in greek)


* New * Western Macedonia Region Development Fund (WMDF) (link in Greek)

Creation of Financial instruments for Western Macedonia Region enterprises.


COSME Loan Guarantee Facility

Loans to SMEs with reduced collateral, due to the provision of guarantees from the European Investment Fund.


InnovFin SME Guarantee Facility

Loans to innovative SMEs and Small MidCaps at reduced interest rates, reduced collateral due to European Investment Fund guarantees.


European Investment Bank loans to SMEs and mid caps

Low interest rate loans through co-operating financial intermediaries. Midcaps may contact the European Investment Bank directly.


Funding program for SMEs and SMEs for the professional empowerment of women

Τhe action of the European Central Bank aims at enhancing the access of eligible businesses to favorable banking financing. Eligible businesses are those which support women's entrepreneurship and enhance the presence of women in leadership positions.

Cooperating banks:

National Bank of Greece (link in Greek)


“Business Innovation – Greece” Programme – Innovation Norway

Business Innovation – Greece provides guarantees to business loans and is aimed entreprise whose business plans can be supported with the guarantee of the Hellenic Development Bank for a loan. The guarantee provided under the project is up to 80% of the loan amount. The amount of the loan is between 25,000 euros and 1,000,000 euros. Loan Duration: up to 10 years, up to 24 months grace period. For each guarantee a commission is paid to the Hellenic Development Bank by the borrower. The commission is calculated as follows: (loan amount) x (0,4%) x (years of loan duration) x (guarantee rate -80% -). Where the loan is to be used as part of a financing scheme financed by another State aid scheme, the amount of the loan for which the guarantee is provided shall not exceed 40% of the total eligible amount of the financial scheme.

Business eligibility

Initially eligible are enterprises that meet the criteria for joining Business Innovation Greece. The request for a guarantee is submitted with the initial application submitted by the enterprise for inclusion in the "Business Innovation Greece" Program: Application Form.  An Innovation Norway evaluation follows, and if the request is approved then the guarantee application is forwarded to the Hellenic Development Bank and the latter, after evaluation, will take the final decision on the Provision of Warranty Intent.

Categories of projects eligible for funding:

  1. Innovation in green industry - Reduction and reuse
  2. Blue Growth - Diversification of businesses
  3. Information and Communication Technologies (ICT)

The amount of funding for SMEs (small and medium-sized enterprises) is up to 50% of the cost of implementing the project, while for large enterprises it is less than 50%. The amount of funding that a company can apply for is between € 200,000 and € 1.5 million per project. Small and medium-sized businesses can also request smaller amounts from € 50,000 to € 200,000 per project.

For more information: Greece - Call for Business Innovation