A a new program and a new service has been announced by the Hellenic Development Bank - EAT. Two initiatives implemented in cooperation with the services Interoperability of the Ministry of Digital Governance, the services of the Ministry of Development and the Ministry Rural Development.

Microloans from the EAT

For the first time, the Development Bank introduces the institution of low-interest micro-loans to farmers and agricultural manufacturing enterprises. It concerns small investments aimed at strengthening agricultural production.

The Know Your Customer platform

For the first time, the Know Your Customer (KYC by HDB) platform is launched. It allows interested parties to express their interest through simple procedures, with a single application. As long as they are eligible (Tax and Insurance aware and without any pending issues with TIRESIA) their application for funding is simultaneously available to as many banks as they choose. Market forces will broaden their options for short and low interest loans.

Interested farmers and manufacturing companies can visit the website of the Hellenic Development Bank: www.hdb.gr to express their interest in the Small Loan Fund for Rural Entrepreneurship.

The procedure

Interested parties submit details on the new KYC platform. They are then informed of their eligibility to qualify for the financing offered by the Fund, for small loans from 3,000 to 25,000 euros. They are co-financed by the Rural Development Programme without the provision of collateral on the part of the rural borrowers.

After testing by the executives of the Hellenic Development Bank - HDB and successive stress tests, especially - at the last stage - in cooperation with a large Cooperative Bank that has a wide range of clients in the agricultural sector, the KYC platform is available to accept the first applications.

The CEO of the Hellenic Development Bank - HDB, Athina Hadjipetrou, keeping her commitment to the Prime Minister to expand the bankability of businesses, took the initiative of the strategic planning and implementation of this innovative platform that changes the financing landscape.

The KYC platform from EAT:

• introduces the institution of microloans in the Greek market
• facilitates and accelerates the cooperation between the various stakeholders and
• ultimately expands the number of financed enterprises

It links the requests of businesses with the financial tools of HDB and addresses them to all the partner banks.

In this way, all interested enterprises gain visibility in the banking system. In turn, it will receive applications that do not conflict with insurance and tax information and solvency.