TEPIH III: Launch of the new Entrepreneurship Fund of the “Competitiveness” Program

The launch of the Entrepreneurship Fund (TEPIX III) of the Program “Competitiveness 2021 – 2027” was announced following the signing of 12 business agreements between Hellenic Development Bank and the collaborating commercial banks.

Within TEPICH III, budget of 500 million euros, it is expected that will be allocated to small and medium businesses loans of 2.2 billion euros -with leverage through the banking system- with particularly favorable terms, expanding the circle of financed SMEs and the lending perimeter them.

The TEPIX III Guarantee Fund consists of two separate Funds, the Guarantee Fund and the Loan Fund:

  • The Guarantee Fund provides credit risk protection in the form of a guarantee for all eligible businesses. It offers a guarantee of 70% to 80% in investment loans (from 10,000 euros to 10 million euros), in working capital loans and revolving credit loans (from 10,000 euros to 500,000 euros). It also offers an interest rate subsidy of two percentage points for two years, to businesses in Attica and the South Aegean, and three percentage points to businesses in the remaining Regions of the country. For loans up to 50,000 euros, collateral will not be required.
  • The Loan Fund offers loans, with 40% of the amount interest-free, and a 3% interest subsidy on the remaining part (60%) for 2 years. In total, the loans provided through the TEPIX III Loan Fund have a reduced interest rate of up to 70% for the first 2 years. The duration of investment loans is 2 to 12 years, with a grace period of up to 24 months. And for working capital from 2 to 5 years, with a grace period of up to 12 months, during which the company does not repay capital but only interest.

Which banks participate in the Wall-Block III

The banks participating in the program are as follows:

  • ALPHA BANK
  • EUROBANK
  • BANK OF PIRAEUS
  • NATIONAL BANK
  • PAGRETIA BANK
  • ATTICA BANK
  • OPTIMA BANK
  • COOPERATIVE BANK OF THESSALIA
  • COOPERATIVE BANK OF KARDITSAS
  • COOPERATIVE BANK OF CHANIA
  • EPIRO COOPERATIVE BANK
  • AEGEAN BALTIC BANK (only for the Loan Fund)
    .

TEPIX III is co-financed by the European Union through the Competitiveness Program (NSRF 2021-2027) and is implemented by EAT.

See here the relevant presentation