TEPIX III Guarantee Fund

Up to €10 million for SMEs

Depending on the financing objective, you may get up to:

• €10 million for investments
• €0.5 million for special purpose working capital

Up to €1.5 million for small and micro start-ups

Your company is considered a start-up if it has been operating for less than 5 years.

Depending on the financing objective, you may get up to:

• €1.5 million for investments
• €200,000 for special purpose working capital

HDB guarantee on up to 80% of the loan

Get a guarantee from the HDB, depending on the programme you choose:

• 70% for SMEs
• 80% for small and micro start-ups

You pay no commission for the Hellenic Development Bank guarantee.

With or without collateral

For financing:

• Up to €50,000, no collateral is required. It is possible that we may request personal guarantees, though.
• Over €50,000, it is possible that we may request personal guarantees and/or collateral for up to 30% of the financing amount.

Floating or fixed interest rate 

Choose whether you want fixed or floating rate based on the 3-month Euribor + spread. 

For the final interest rate, we take into account:

• Your credit history
• Our credit policy
• The HDB guarantee

The Law 128/1975 levy (currently 0.60%) is added to the final interest rate.

2% or 3% interest rate subsidy for 2 years

For investment loans and working capital in the General Entrepreneurship programme you get an interest rate subsidy of:

• 200 basis points for the regions of Attica and South Aegean
• 300 basis points for the other regions

For working capital in particular, you must be receiving financing from the HDB (former TEMPME, ETEAN) for the 1st time. The subsidy does not cover the Law 128/1975 levy and any default interest.

For investment loans and working capital in the Start-up Entrepreneurship programme you get an interest rate subsidy of:

• 200 basis points for the regions of Attica and South Aegean
• 300 basis points for the other regions
  

You may not get an interest rate subsidy under any of these 2 programmes if you:

• Opt for revolving working capital.
• Delay your loan payment for more than 90 days.

The interest rate subsidy is provided as additional aid and is included in the calculation of the State aid combination ceilings. 

No guarantee commission

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

From 2 to 12 years for SMEs

The term depends on the purpose of the loan:

• 60-144 months for investments
• 24-60 months for fixed-term working capital loans
• Up to 36 months for revolving working capital, with the option to switch to a fixed-term loan for an additional 24 months.

From 2 to 10 years for small and micro start-ups

Your company is considered a start-up if it has been operating for less than 5 years.

The term depends on the purpose of the loan:

• 60-120 months for investments
• 24-60 months for fixed-term working capital loans
• Up to 36 months for revolving working capital, with the option to switch to a fixed-term loan for an additional 24 months.

Flexible repayment

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

• Equal instalments that pay interest and capital.
• Equal or unequal instalments that pay capital.
  

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

For investment loans in particular, you may opt for a bond loan.

Early repayment at no extra charge

Regardless of the type of interest rate you may opt for, you can repay early part of or even the entire loan amount, at no extra charge.

Company size

To get a loan through the TEPIX III Guarantee Fund, you must own, as defined in annex I of Regulation (EU) 651/2014:

• A small- and medium-sized enterprise (SME), for the General Entrepreneurship programme.
• A micro or small enterprise operating for less than 5 years, for the Start-up Entrepreneurship programme.

Other eligibility criteria

Also, your business must:

• Operate permanently in Greece.
• Not be listed on a regulated market.
• Meet the Alpha Bank credit criteria.

Find out more about the eligibility criteria and the expenditures you may finance (pdf only in Greek).