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Recovery from Natural Disasters Microloans Fund

If you are active in Thessaly, enhance the sustainability of your small or micro business with a loan from the Hellenic Development Bank, co-financed by Alpha Bank.
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To strengthen your business

75% interest-free loan
Pay interest and the Law 128/1975 levy, currently at 0.60%, only for 25% of the loan.
Up to €900 for mentoring
Secure €900 per individual tax number for coaching and consulting through our partner ecosystem.
Working capital and fixed costs
Get up to €25,000 to secure special purpose working capital and buy fixed assets not exceeding 40% of the loan amount.

Logos of the Entrepreneurship Fund, European Union, NSRF 2021-2027, Competitiveness Programme 2021-2027 and Hellenic Development Bank

The loan is provided through the Recovery from Natural Disasters Microloans Fund, which is managed by the Hellenic Development Bank (HDB) and co-financed by the European Union, through the Competitiveness Programme 2021-2027.

Discover the features

Review the features of the loan from the Recovery from Natural Disasters Microloans Fund for Thessaly.

What are the loan amount and collateral

From €3,000 to €25,000 

Receive a loan amount from €3,000 to €25,000 to secure special purpose working capital and buy fixed assets. 

The expenditure for fixed assets cannot exceed 40% of the total loan amount.

One-off or in instalments

You may get the loan amount:

  • In one go
  • In multiple instalments

The 1st disbursement must take place within 4 months from signing the loan agreement and before 31.12.2029. All disbursements must be completed within 24 months from signing the loan agreement and before 31.12.2029.

With personal guarantees

You only offer personal guarantees for the total loan amount.

Up to €900 for mentoring

Secure a grant up to €900 per individual tax number for business coaching and mentoring services. The maximum service fee is €100/hour.

Explore our partner ecosystem and find the provider that best meets your needs.

What’s the interest rate

75% interest-free loan

75% of the loan is interest-free, financed by the Recovery from Natural Disasters Microloans Fund of the Hellenic Development Bank.

Floating or fixed for the remaining 25%

For the remaining 25% for the loan you get from Alpha Bank, you can choose:

  • Floating rate based on the Euribor 3M + spread
  • Fixed rate

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 loan from the Recovery from Natural Disasters Microloans Fund, the levy currently stands at 0.60% and only applies on the interest-bearing portion of the loan.

What are the loan term and repayment method

From 1 to 8 years

Repay the loan in 1 to 8 years, depending on your finances.

You also have the option for an up to 6-month grace period.

With instalments that repay interest and capital 

You can adapt your working capital payments according to your business needs and cash flow with:

  • Instalments that repay interest and capital
  • Payment every 1, 3 or 6 months

You choose whether you want to pay the instalments:

Early loan repayment

You can repay your loan earlier in full or in part, at any time, without any penalties.

What are the eligible businesses and expenditures

For small and micro businesses

Small businesses are those that:

  1. Employ < 50 persons 
  2. Have an annual turnover or an annual balance sheet total ≤ €10 million

Micro businesses are those that:

  1. Employ < 10 persons 
  2. Have an annual turnover or an annual balance sheet total ≤ €2 million

For any legal form

Your business may have any legal form, as long as it was established at least 1 year before the loan application date.

Only for the Thessaly region

Your business must be active in areas affected by the natural disasters in the Thessaly region, meaning the regional units of: 

  • Karditsa
  • Larisa
  • Magnisia 
  • Sporades
  • Trikala

You receive financing irrespective of whether your business suffered damages due to the natural disasters.

For specific expenditures 

You receive financing to secure special purpose working capital and buy fixed investments that:

  • Are included in your 2-year business plan.
  • Occurred up to 6 months before the application date.
  • Are eligible.

Find out what expenditures are not eligible.

How to get financing

Find out the conditions to apply for a loan from the Recovery from Natural Disasters Microloans Fund for Thessaly.

Explore other options

Find other products or services that may interest you.

2 financing programmes

TEPIX III Guarantee Fund

For 4 types of innovation

Innovation Guarantee Fund

For public works

HDB – TMEDE Loan Guarantee Fund

Any questions?

Find the answers you need about the Recovery from Natural Disasters Microloans Fund for Thessaly.

Which businesses are considered micro businesses?

According to Commission Recommendation 280/1996 and the new Recommendation 361/2003:

Small businesses are those that:

  1. Employ < 50 persons
  2. Have an annual turnover or an annual balance sheet total ≤ €10 million

Micro businesses are those that:

  1. Employ < 10 persons
  2. Have an annual turnover or an annual balance sheet total ≤ €2 million

What expenditures are not eligible?

Expenditures such as:

  • Debt interest payments.
  • Duties, taxes (except for the eligible VAT), custom duties, etc.
  • Bank loan application fees.
  • Purchase of land, property and infrastructure.
  • Used products.
  • Purchase of fixed assets (e.g. furniture, equipment, vehicles) that exceed 40% of the total loan amount, unless these are amortised within the horizon of the business plan.

My business had not suffered damages from the natural disasters. Can I apply for the loan?

Yes, as long as you meet the eligibility criteria.

Enhance the sustainability of your business

Book an appointment and let’s discuss in person, through video call or over the phone how you can strengthen your business in the Thessaly region.
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