Attica Bank: New financial products for small and medium-sized hotel companies

A new integrated package of financial products, “Attica Hospitality” for enterprises of the country’s hotel Attica Bank practically supporting small and medium entrepreneurship and in particular the dynamic and growing hotel industry.

The new “Attica Hospitality” series offers special financial products, short-term and medium-long-term credits, designed to cover the different needs of every small and medium-sized hotel business at a competitive interest rate.

The approval process is immediate, in up to 15 days from the complete submission of the required supporting documents, while additional solutions are also provided, such as, for example, the insurance product Hospital Services and other facilities with competitive pricing.

Three financial tools from Attica Bank

Attica Hospitality consists of three individual financial instruments:

  • Attica Operate: Strengthens the liquidity of the hotel business to cover current costs, such as indicatively: maintenance costs, consumable room equipment, clothing, costs of preparing for the tourist season, food, consumables, insurance contributions, covering utilities costs (energy, water, telecommunications). The amount of financing can reach up to 300,000 euros, through a regular short-term loan with a competitive interest rate. The duration of its repayment concerns a period of 9 months, with a parallel possibility of extension to an annual repayment for city hotels.
  • Attica Develop: Covers the investment needs of the hotel business, such as indicatively: purchase/upgrade of fixed equipment, partial renovation of the business premises, addition of new services offered to the hotel business, etc., with financing up to 200,000 euros, through fixed term loans and leasing products with a competitive interest rate. The maximum duration of the loan is three years with the possibility of a grace period of 9 months.
  • Attica Sustain: The “green” product of Attica Hospitality which covers the investment needs of the hotel business in terms of responding to ESG criteria and energy upgrading. For example, the following are financed: purchase and installation of photovoltaic systems for self-consumption and energy compensation (net-metering) of the energy produced, replacement of frames with new ones of high energy function, replacement/installation of thermal insulation, upgrading of the cooling system with intelligent control systems, upgrading of the domestic hot water system, using RES, other energy saving interventions (smart home). The amount of financing is up to 200,000 euros, through fixed-term loans and leasing products with a competitive interest rate. The maximum duration of the program is three years with the possibility of a grace period of 9 months.

Hospital Services

In collaboration with Interamerican, the Hospital Services product is available from Attica Bancassurance, at a particularly competitive price and with coverage provided, such as:

  • Emergency air transport
  • Telephone medical advice 24/7 in five languages
  • Organization of repatriation for all incidents
  • Responsible medical direction and support for all Covid-19 matters

The Attica Hospitality umbrella offers a range of complementary products and services, such as:

  • possibility of using leasing products to cover new purchases of fixed equipment and means of transport (with a further discount of 25 basis points on the interest margin of the loan
  • loan disbursement and sending remittances directly to suppliers through invoice payment
  • discount up to 30% on the monthly management cost of Attica Bank POS
  • 25% discount on current invoice for remittances and money orders
  • corporate credit cards with a competitive interest rate and providing higher interest rates on deposit products and accounts

Elene Brettou, managing director of Attica Bank

“Our bank’s primary and perennial priority is to provide useful and helpful tools to small and medium-sized businesses. With “Attica Hospitality” we mark our entry into the standardized and modern financing of small and medium-sized hoteliers and the practical support of the country’s tourism industry. We cover the loan needs of small and medium-sized hotel businesses and want to be helpful in their development efforts in an extremely competitive environment. We work intensively and purposefully to constantly create modern banking products for all dynamic sectors of the Greek economy”.