Guarantee Fund in the Current COVID-19 Outbreak [11/5/2020]
The "Guarantee Fund in the current COVID-19 Outbreak" was created to support business access to loan capital, through the provision of collateral, in a portfolio up to a maximum amount, The aim of the fund is to mitigate the effects of the COVID-19 pandemic on the operation of businesses, by enhancing their liquidity with working capital loans.
The total available funds of the three Cycles of the Fund amount to 2 billion euros (1 billion euros from the first cycle, 780 million euros from the second cycle and 220 million euros from the third cycle of the Action). For the guarantee of the guarantee supply, the financial contribution of up to 250.000.000 euros is financed through the Public Investment Program.
The loans will be granted to small, medium and large enterprises, no later than June 30, 2022 and are expected in the second Cycle to reach 2.5 billion euros and 500 million euros in the third Cycle.
Under the first Cycle, loans over 3.5 billion euros were approved and granted. The total amount of loans in both cycles, which companies will receive, are scheduled toexceed 6,5 billion euros.
For the first and second Cycles the resources of the Fund are co-financed by the European Regional Development Fund (ERDF) and the Greek Public Sector, part of which comes from the Operational Program Competitiveness, Entrepreneurship and Innovation (EPAnEK) 2014-2020.
For the third Cycle the project is funded as part of the Union's response to the COVID-19 pandemic - React EU.
For more information, interested parties can contact the Hellenic Development Bank, by email: email@example.com and by calling at 210-7450400, as well as by contacting the bank of their choice.