H Chania Cooperative Bank, continuing to strengthen small and medium entrepreneurship, participates in the new “TEPIH III” business funds managed by Hellenic Development Bank (EAT SA).
The Bank offers the new TEPIX III financing tools to very small, small and medium-sized companies, supporting their investment plans and supporting their liquidity with favorable conditions, reduced guarantees and interest rate subsidies.
TEPIX III Loan Fund
O Chania Cooperative Bank participates in “TEPIH III Loan Fund” grants loans with favorable conditions to cover the financing needs of companies based in Greece, with the aim of strengthening their productive activity and improving their competitiveness.
The action concerns the granting of new loans with favorable conditions to SMEs to cover their financial needs (loans for investment purposes and working capital for the expansion and development of the company’s activity), with resources from the Bank and the Fund of Co-financing, which is managed by EFTA. These are loans with regular maturity and a preferential interest rate. 40% of the loan from the Fund’s funds is interest-free, while the bank’s interest rate applied to 60% of the amount granted is expected to be:
- interest rate reduction of at least 25 basis points, compared to corresponding financing without support from public funds
- Two-year interest subsidy of 3% per annum (subject to conditions)
- Reduced warranty
TEPIX III Guarantee Fund
The Chania Cooperative Bank participates in the action “TEPIX III Guarantee Fund” for granting secured loans on favorable terms to small and medium-sized enterprises based in Greece with the aim of meeting working capital needs (regular maturity and renewable credit) and investment loans, upon presentation of a business plan.
The Guarantee Fund is divided into two subprograms/subfunds, depending on the characteristics of the eligible companies:
- Subfund “General Entrepreneurship” concerning SMEs
- Subfund “Start-up Entrepreneurship”, which concerns micro and small companies with up to 5 years of operation.
Loans under the “General Entrepreneurship” subprogram will be guaranteed by the Guarantee Fund up to 70%, while loans under “New Business Entrepreneurship” will be guaranteed by the Fund up to 80%. The Fund will provide an interest subsidy of up to 3% during the first two years of financing for companies that meet specific criteria, as well as a zero guarantee fee.
For inclusion in the TEPIX III Loan Fund and the TEPIX III Guarantee Fund, the financing applicant submits an online application:
A) On the Hellenic Development Bank KYC (Know Your Customer) platform, via the website www.hdb.gr, and the Chania Cooperative Bank is chosen as the cooperation bank. For each completed application and after a series of assessments of the eligibility criteria, the application is forwarded to the Bank. If the request is initially accepted, i.e. if the interested party receives a non-binding offer, a unique code is issued.
B) In the Integrated State Aid Information System (ISIS), through the website https://app.opske.gr/ where the unique application number of the KYC platform must be entered so that the company in question can continue the process of submitting and completing the electronic application to the Bank from which it has already received the non-binding offer.
Information and scheduling at Branches and ATM network – Bank of Chania (chaniabank.gr)