On May 20, 2020, the new cycle of 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).
Businesses which are affected by the Covid-19 pandemic.
Loan capital loans with full interest rate subsidy (interest-free) – Funding:
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
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 www.ependyseis.gr.
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: