The long-standing cooperation with the Hellenic Development Bank (Hellenic Development Bank ), by participating in the new Portfolio Fund under the name BUSINESS GROWTH FUND is expanding the Piraeus Bank.

The Portfolio Fund was created by the Hellenic Development Bank and the Greek State with resources from the Public Investment Programme and a loan granted by the European Investment Bank to the Greek State.

Through its cooperation with EAT, Piraeus Bank offers financing with attractive terms including 40% interest-free financing from EAT and a 3% interest rate subsidy for the first two years. They aim to cover with favourable solutions, both operational and investment needs of small and medium-sized enterprises, concerning green investments and the digital transformation and their transformation.

The new tools

Through the BUSINESS GROWTH FUND, three new financial instruments are created:

I. Liquidity Co-Financing Loans (Liquidity Co-Financing Loans)

This is a financial instrument of co-financed loans for Working Capital, with a duration of 2 to 5 years and a volume of €10,000 to €1,500,000. EAT is involved by providing 40% of the funds interest-free. The remaining 60% is financed by the Bank on attractive pricing terms.

In addition, there is the possibility of a partial interest rate subsidy, exclusively for SMEs. Enterprises which have not received a previous business loan from an EAT programme (formerly ETEAN-TEMPME). The subsidy is equal to 300m.b. (3%), is applied at the interest rate at which the Bank accrues interest on its capital (60% of the loan) and has a duration of 2 years from the 1st disbursement.

This product is intended to:

• facilitate the smooth operation of the business cycle
• to help address the increased energy costs under the current exceptional market conditions
• protecting and increasing jobs; and
• maintaining/increasing the competitiveness of SMEs

II. Digitalization Co-Financing Loans (Digitalization Co-Financing Loans)

It is a financial instrument of co-financed Investment Loans, with a duration of 2 to 10 years and a volume of €25,000 to €1,000,000. EAT is involved by providing 40% of the funds interest-free. The remaining 60% is financed by the Bank on attractive pricing terms.

In addition, all eligible companies are offered the possibility of a partial subsidy of up to 300m.b. (3%) of the interest rate at which the Bank pays on its capital (60% of the loan), with a term of 2 years from the 1st disbursement. The purpose of the product is to enhance the digitization and digital upgrading of the business operations/activities of enterprises, aiming at:

• increasing their productivity
• their enlargement, and
• the creation of new high value-added jobs

III. Green Co-financing Loans (Green Co-financing Loans)

It is a financial instrument of co-financed Investment Loans, with a duration of 2 to 10 years and a volume of €80,000 to €8,000,000. The EAT participates by providing 40% of the loan capital interest-free. The Bank finances the remaining 60% with attractive pricing terms.

In addition, all eligible companies are offered the possibility of a partial subsidy of up to 300m.b. (3%) of the interest rate at which the Bank pays on its capital (60% of the loan) with a term of 2 years from the 1st disbursement.

The purpose of the product is to support businesses operating mainly in the sectors:

• Energy efficiency (Energy efficiency / transition)
• electrification (Green Mobility) and
• energy production through renewable energy (Green Renewable Energy)

The ultimate goal is to reduce air pollutant emissions and protect the environment.

The steps

There are 3 simple steps for those interested to submit their application:

• Submit an application to the KYC (Know Your Costumer) platform of the Hellenic Development Bank www.hdb.gr, choosing Piraeus Bank
• Submit an application at the State Aid Information System (PASKE) www.ependyseis.gr, selecting Piraeus Bank
• Visit to one of the Piraeus Bank branches for the submission of the file

Piraeus Bank, with its participation in the "BUSINESS GROWTH FUND" Portfolio Fund, expands the range of financing opportunities for Greek SMEs and confirms its presence as the preeminent bank supporting Greek entrepreneurship.