The funds target the takeover of SMEs | eKathimerini.com
Small and medium-sized enterprises will receive the lion’s share – 85% – of loans to be disbursed under the second phase of the Guarantee Fund financing program, which is expected to start in early October.
The eligibility condition for companies is not to have benefited from bank loans under the two programs activated to date to face the consequences of the crisis by the Entrepreneurship Fund II (TEPIX II) and the Guarantee Fund. .
This is the decision that Deputy Development Minister Yiannis Tsakiris and General Manager of the Hellenic Development Bank, Athina Hatzipetrou, took on Tuesday following the recommendation of commercial banks that it is mainly SMEs that suffer from financial problems. liquidity.
These companies should also be given priority in the new phase of the TEPIX II program which, according to sources, starts this Friday with a budget of 800 million euros, offering each company a working capital of up to € 500,000. with a condition of two years. subsidy for interest. This constitutes a new round of table after the strong demand recorded in the first phase of TEPIX II, with applications from more than 10,000 companies.
Kathimerini understands that on the same day the invitation to banks will be issued for their participation in the second phase of the Guarantee Fund. He will ask commercial lenders to take advantage of the billion euros granted as a guarantee from the state which, after the participation of banks with their own capital, will offer loans of 3.5 billion euros.
In the first phase of the Guarantee Fund, large companies got around € 2 billion from its € 3.5 billion budget – the remaining € 1.5 billion went to SMEs. This balance has now shifted as around € 3 billion will this time go to SMEs, while € 500 million will go to large companies.
Bank officials report that large companies have mostly covered their liquidity needs after the first round of financing, unlike SMEs which are more numerous and have greater financing needs. Experience to date also shows that large companies find it more difficult to absorb large loans due to their increased control procedures.