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Working capital with 100% interest rate subsidy for the first two years from TEPIX II

Working capital with a two-year interest rate subsidy

Working capital with a two-year interest rate subsidy, due to COVID-19 from TEPIX II

Applications for working capital loans with full interest rate subsidy (interest-free for the first two years) from TEPIX II will begin, for small and medium-sized enterprises that have been suspended or restricted due to the CoViD-19 pandemic and are aware of their debts.

The loans are provided by the systemic banks, while the interest rate of the loan is subsidized by the Hellenic Development Bank through the resources of the TEPIX II Entrepreneurship Fund.

Due to the high interest in applications in the new cycle, we suggest that companies should immediately start preparing the required supporting documents so that they can submit the application in time as soon as the program starts.

The aim of equity loans with full interest rate subsidy, is to provide long-term and substantial support to the financial liquidity of these companies, so that they can more effectively deal with the consequences of suspending or restricting their operations. The submission and approval of applications of the program for working capital loans with full interest rate subsidy (interest-free) for small and medium enterprises, is done in order of priority until the time of the depletion of the resources of the Action.

So far, in the program, the applications submitted have exceeded a total of 3.5 billion. euro, when the program budget was 1.3 billion. euro. The action is called Business Entrepreneurship Funding (TEPIX II).

Beneficiaries of TEPIX II:

Businesses which are affected by the Covid-19 pandemic.

Loan capital loans with full interest rate subsidy (interest-free) – Funding:

  • Up to 50% of the company’s turnover as reflected in the balance sheet or the VAT return or the periodic VAT returns of the financial year preceding the application date or
  • Up to 50% of orders this year. In the case of newly established companies, it is financed with a subsidized interest rate, up to 50% of the orders of the current year or 80% of the loans on credit.

Interest rate and loan criteria:

  • The interest rate of each loan for the first two years will be subsidized by 100% from the resources of TEPIX II
  • The interest rate cannot exceed 8%, for the period during which it is subsidized (first two years). For this period, the loan interest rate will remain stable.
  • The main criterion for the interest rate subsidy is the maintenance of jobs during the first two years of the loan.
  • There is no obligation to document the use of the Movement Capital loan with relevant expense documents.

Loan duration and grace period:

The duration of each loan is set from 24 to 60 months from the disbursement (lump sum or first installment) of the loan.

It is possible to grant a grace period from 6 to 12 months

Application procedure for obtaining a working capital loan with full interest rate subsidy:

Upon submission of the request, the company must have one of the eligible KAD and submit a request for funding electronically, in the Information System of State Aid (PSKE) on the website

Conditions for maintaining the interest rate subsidy of the working capital loan

The company must maintain for the entire two years that it receives an interest rate subsidy at least the same number of employees employed on 19.03.2020 based on the data of the ERGANI system.

A precondition for receiving the amount of the subsidized interest is that the company, at the time of disbursement of the subsidized interest as defined in the loan agreement, does not show overdue debts from the specific financing.

Along with the new program, the interest subsidy action for existing business loans remains active.

For more information and the submission of the application for the working capital with a two-year interest rate subsidy (TEPIX II), please contact VK PREMIUM on the bellow form:  


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