Cooperation agreement with the Hellenic Development Bank SA (HDB), to provide loans to farmers for investment and/or working capital, co-financed by the Small Loans Fund for Rural Entrepreneurship , signed by Piraeus Bank.

The Fund is managed by the HDB. The co-financed loans are for resources, which are fully funded by the European Union's Recovery Fund. The funding is provided under the Rural Development Programme 2014/20 .

The purpose of the Fund is to finance loans to farmers and professionals in the primary sector (farmers and livestock farmers), as well as small and medium-sized enterprises active in the production of agricultural products and food processing, with an agricultural end product ( agricultural processing enterprises ).

The loans of the Small Loans Fund for Rural Entrepreneurship enable eligible borrowers, based on the business plan they submit, to cover both investment needs and operating costs.

The loans range from €3,000 to €25,000 with a term of 2 to 5 years. For the first two years are interest-free, as the their interest rate is 100% subsidised by the Fund. For the remaining term, their interest rate will be reduced by 50% compared to the interest rate of similar loans, due to the interest-free contribution of the Fund.

An additional advantage of these loans is the fact that no collateral is required to obtain them.

Eligible businesses/farmer can also make use of technical and mentoring services through consultancy companies cooperating with the bank. For the technical and advisory support the enterprise/farmer may receive an additional grant of EUR 300 under this scheme.

Piraeus Bank is traditionally the bank of the primary sector , supporting farmers at every step. All interested beneficiaries of the Action can submit the two necessary applications:

• The 1st at the KYC (Know Your Costumer) platform of the Hellenic Development Bank, at the following address: to get the unique eligibility code and
• The 2nd in the State Aid Information System (PASKE) at www.ependyseis.gr, selecting Piraeus Bank.

Upon completion of the application process, the entrepreneur/farmer can visit one of Piraeus Bank's branches,presenting the application form from the PSCE, in order to proceed with the funding request.