The Fund for Entrepreneurship is a holding (capital) fund created at the Hellenic Fund for Entrepreneurship and Development S.A. (ETEAN S.A., ex TEMPMPE) aiming at cooperating with banks that will come up after public request for tenders for the joint grant of revolving loans. The Fund for Entrepreneurship and selected banks co-invest and co-finance the establishment and mainly the development of Greek businesses, by providing loans with favourable terms, thus facilitating the access of businesses to finance and decreasing the total cost of borrowing.
The Action: General Entrepreneurship is co-funded by the Fund for Entrepreneurship of ETEAN S.A. and Alpha Bank and aims atgranting loans with favourable terms to businesses that are eligible under the Investment Law (Law 3908/25.01.2011).
The total amount of capitals for the Action: General Entrepreneurship rise to 300 million €, 100 million € of which concern the participation by the Fund for Entrepreneurship of ETEAN S.A. and 200 million € by Alpha Bank.
Summary of terms of borrowing
Amount of loan: from 50,000€ to 800,000€
Duration of loan: from 5 to 10 years with a possibility of an interest-bearing grace period up to 2 years
Annual interest rate: stable during the entire period of loan and equal to 4.40%
Charge by Law 128/75: 0.60%
Administrative cost: 900€
For the exact terms of the loan, those interested should ask for more detailed information by Alpha Bank and ETEAN S.A.