More credit for local enterprises

New loans adding up to 3.3 billion euros will be channeled into the market over the next few months through banks and the support programs of the Hellenic Development Bank.

This primarily concerns the second phase of the Guarantee Fund, through which businesses will receive €2.5 billion regardless of whether they also secured credit during the first phase. Of that amount, €780 million will come from the state.

Another €850 million will be issued through the new phase of Entrepreneurship Fund II, which will exclusively comprise loans to new enterprises that have not received any funding before.

The applications to be satisfied will be those that were submitted at www.ependyseis.gr during the first phase but which had not been approved as the resources available had run out. This practically constitutes an extension of the program, with 95% of funds contributed by banks, so as to cover demands for working capital that have remained outstanding.

The maximum amount of credit granted will come to €500,000 and the state support will concern the subsidy of the interest and apply for two years.

Source: ekathimerini.com