Financing is carried out by the Development Law Financial Instrument Guarantee Fund (DeLFI GF), managed by the Hellenic Development Bank (HDB) through resources funded by the Greek State under the Public Investment Programme.
Boost the competitive edge of your business
Up to 80% guarantee
Secure up to 80% guarantee from the HDB and pay the commission in a lump sum.
Based on your needs
Get financing to cover your own funds participation or repay the subsidy up-front.
Flexible repayment
Repay the loan in up to 10 years, depending on your business needs.
Discover the features
Find out the features of the loan from the Development Law Financial Instrument Guarantee Fund.
What are the loan amount and collateral
Financing up to €10 million
We offer investment loans from €50,000 to €10,000,000 for you to finance part of:
- Your own funds in the investment plan, as 25% of the plan must not receive any form of state aid – with a medium-term loan up to 10 years
- The subsidy for liquidity until you receive the public funding – with a short-term loan up to 5 years
For approved investment costs
Through the DeLFI GF you can cover the cost of your investment plans that have been approved and included in a scheme under Development Law 4887/2022.
HDB guarantee on 80% of the loan
For 80% of the loan amount covered under the DeLFI GF guarantee of the Hellenic Development Bank.
What’s the interest rate and what are the fees
Floating or fixed interest rate
The interest rate is lower, owing to the guarantee provided by the HDB throughout the loan term.
You can opt for floating interest rate (Euribor 3m + spread) or fixed interest rate.
Guarantee commission
You pay the commission in a lump sum at your 1st loan disbursement. The guarantee may relate to 1 of the following cases:
- If the guarantee is state-aid free, the commission is calculated based on the loan amount and ranges from 0.40% to 6.30%. It does not increase the state aid amount.
- If the guarantee is subject to state aid, the commission is equal to 0.20% of the guaranteed amount of the loan. The Gross Grant Equivalent (GGE) should not exceed the maximum level of the aid specified in the regional aid map.
What are the loan term and repayment method
Up to 10 years
Your loan will have a term of:
- 3 to 10 years for a medium-to-long-term loan that finances all or part of your own funds.
- 1 to 5 years for a short-term loan that repays the subsidy up-front.
For all loans, there is a grace period option of up to 36 months.
Flexible repayment
You can adapt your loan payments according to your business needs and cash flow:
- Equal instalments that pay interest and capital
- Instalments that pay capital – medium-to-long-term loan
- Bullet payment – short-term loan
- Equal or unequal instalments that pay capital
Early loan repayment
You may repay your loan in full or in part at any time, without any additional charges.
Explore other options
Find other products or services that may interest you.
Any questions?
Find the answers you need about the Development Law Financial Instrument Guarantee Fund.
Which businesses are exempt from financing through the HDB loans?
Business with non-eligible business activity codes (KAD / NACE) and those involved in activities, such as:
- Illegal economic activities, according to the Greek and EU law, as in force
- Production of and trade in weapons and ammunition
- Production, processing and trade of tobacco and tobacco products
- Research, development or technical applications providing support services to online gambling and casinos
- Pornography
- Illegal access to electronic data networks
- Illegal receipt of electronic data
- Research, development or technical applications for research or therapeutic purposes related to human cloning and genetically modified organisms (GMOs)
- Decommissioning or building nuclear power plants
Are there restrictions in using the loan I will receive?
Yes. You cannot use the loan to:
- Pay off an existing loan or credit card debt.
- Pay dividends.
- Buy shares.
- Carry out mergers or acquisitions.
Which businesses are considered micro, small or medium-sized?
According to Commission Recommendation 280/1996 and the new Recommendation 361/2003:
Micro businesses are those that:
- Employ < 10 persons
- Have an annual turnover or an annual balance sheet total ≤ €2 million
Small businesses are those that:
- Employ < 50 persons
- Have an annual turnover or an annual balance sheet total ≤ €10 million
Medium-sized businesses are those that:
- Employ < 250 persons
- Have an annual turnover ≤ €50 million or an annual balance sheet total ≤ €43 million