Energy efficiency loan for businesses

Up to €7.5 million

We offer financing up to €7.5 million for the purchase and installation of photovoltaic systems (without VAT) through our partner ecosystem. The PV system can be installed:

• At your place of business
  
• At a remote location (virtual)
  

We assess and approve your application based on:

• Your business profile.
  
• The investment budget.
  
• The collateral you offer.
  

EIF guarantee for 80% of the loan

Secure an EIF guarantee for 80% of the loan you take out.

Lower collateral

To get the loan, you can offer as collateral:

1. Personal guarantees. We may also ask for corporate guarantees.
   
2. Assignment of the insurance policies covering the PV system installations and equipment. 
   

You may also offer cash collateral (pledged deposits) and benefit from a lower interest rate.

Fixed or floating interest rate 

Choose fixed or floating rate for the entire loan term.

From 4.50% fixed rate

The fixed rate depends on the collateral you are offering, and may be:

• 4.50%, with 20% pledged deposits offered.
  
• 4.75%, with 10% pledged deposits offered.
  
• 5.00% without pledged deposits.
  

Floating rate with 1.80%+ spread

The floating rate depends on the collateral you are offering, and may be based on:

• Euribor 3Μ + 1.80% with 20% pledged deposits
  
• Euribor 3Μ + 2.10% with 10% pledged deposits
  
• Euribor 3Μ + 2.40% without pledged deposits
  

Law 128/1975 levy

According to Law 128/1975, all loans are subject to a levy that is paid to the Greek State.

For the energy efficiency loan for businesses the levy currently stands at 0.60%.

Have a look at the deposit and loan interest rates.

Staged disbursement

The energy efficiency loan amount is disbursed in 2 instalments:

• 80% of the amount upon receipt of invoices confirming completion of the installation. The amount is paid directly to the contractor.
  
• 20% of the amount upon receipt of a certificate of electrification issued by HEDNO.

From 2 to 10 years with a grace period

Repay the PV systems energy efficiency loan in 2 to 10 years.

You can get up to 12 months grace period, with no interest capitalisation. Meaning that during your grace period you pay interest only, on a quarterly basis.

Instalment payment every 1, 3 or 6 months

Every 1, 3 or 6 months you pay equal:

• Instalments that gradually repay capital.
  
• Interest-bearing instalments repaying both interest and capital.
  

You choose whether you want to pay the instalments:

• Automatically with a standing order from your business account
  
• Online through business web banking
  
• At one of our branches
  

Early loan repayment

You can repay your loan earlier in full or in part at any time, without any penalties, if you have opted for a floating rate.

If you have opted for a fixed rate, you will pay a penalty.

For the processing fee

You pay a lump sum depending on the loan amount:

• €400 for amounts up to €50,000 
  
• €500 for amounts from €50,000.01 to €150,000
  
• €800 for amounts from €150,000.01 to €500,000
  
• €1,200 for amounts from €500,000.01 to €1,000,000
  
• €3,000 for amounts over €1,000,000.01
  

Technical due diligence fees

Apart from the fees to Alpha Bank, you also pay:

• €150+ for budget cost verification.
  
• €300 for assessment of the investment’s viability.
  
• €150+ for certification of work progress, installation, and operation by an engineer.
  
• Costs for the service of collateral arrangements, if you are offering collateral.
  

VAT and engineer travel expenses are added to the fees, as appropriate.

Mandatory PV system insurance

You must insure the PV system installations and equipment against theft, fire, natural disasters and mechanical failure, and bring an insurance policy in force to the branch.

Optional borrower insurance

You may also get the Business owner loan protection insurance plan we offer in cooperation with Generali. This way, if something unexpected comes up, your outstanding loan balance and accrued interest will be paid on time.