TEPIX III to provide SMEs with loans at favorable rates

The new Entrepreneurship Fund (TEPIX III) is offering small and medium-sized enterprises the chance to obtain loans of 2.2 billion euros on favorable terms, through the 12 cooperating banks.

An interest-free loan is provided for 40% of the amount and an interest rate subsidy of up to three percentage points for two years; also, an interest rate subsidy of two percentage points for two years to businesses in Attica and the South Aegean and three percentage points to businesses in the rest of Greece.

No real collateral will be required for loans up to €50,000.

TEPIX is financed by the NSRF with €500 million, and the rest will come through the leverage in the banking system.