Innovation Guarantee Fund

Long-term financing up to €400,000

Get long-term financing from €25,000 to €400,000.

The loan is paid out in a lump sum or in multiple instalments within the grace period and no later than 31.12.2026, unless the total available funds of the programme are used up before that time.

Guarantee for 80% of the loan

Get 80% guarantee from the Innovation Guarantee Fund of the Hellenic Development Bank.

With personal guarantees or other collateral

If you get up to €50,000, you only offer guarantees.

If you get more than €50,000, you may offer other collateral for up to 20% of the loan.

Floating rate

Secure a floating rate based on the 3-month Euribor + spread.

Law 128/1975 levy

According to Law 128/1975, all loans are subject to a levy that is paid to the Greek State, which currently stands at 0.60%.

No guarantee commission

You pay no guarantee commission provided you don’t exceed the State aid ceilings.

The guarantee is provided as an aid to businesses in the form of a Gross Grant Equivalent (GGE).

Up to 10 years

The repayment period is up to 10 years with a grace period between 12 and 36 months, during which you only pay interest.

Flexible repayment

You can adapt your loan payments according to your business needs and cash flow:

• Instalments that repay interest and capital.
• Instalments that pay capital.
  

You pay the instalments every 1, 3, 6 months or once a year.

Up to 20% of your loan

You may get a subsidy from the HDB for up to 20% of the disbursed capital, to lower the outstanding amount of your loan. As long as you meet specific criteria within 36 months from the 1st loan disbursement. 

For 15% of the capital subsidy

To get the 15% of the subsidy, the total expenses for research and innovation you make in up to 36 months from the 1st loan disbursement must correspond to:

• 20% of total operating expenses over the same period.
• 20% of the financing amount, according to the most recent certified financial statements, if your business is a startup operating for less than 3 years.

For 5% of the capital subsidy

To get the remaining 5% of the subsidy, you need to also meet the ESG criteria.

Business activity

To get the financing, your business must be an innovative small- or medium-sized enterprise (SME) (pdf only in Greek).

Innovative investment plans

Your business can use the financing to cover expenses for tangible or intangible fixed assets, and the working capital necessary to complete the investment plan.

The investment must pertain to 1 or more innovation categories:

• Product innovation, e.g. creating a new or improved product.
• Process innovation, e.g. creating or applying a new process.
• Marketing innovation, e.g. creating or applying a new marketing method. 
• Organisational innovation, e.g. creating a new or significantly improved organisational method in business practices, workplace set-up, etc.

Find out more about the eligibility criteria (pdf only in Greek).