Microfinance Fund by HDB

Early next year, Hellenic Development Bank is expected to activate the Microfinance Fund, through which loans at a maximum level of 25,000 euros will be given to very small businesses, self-employed individuals, freelancers and startups to strengthen small entrepreneurship.

According to the plan, the new fund will cooperate with licensed microcredit companies, through which the microloans will be channeled.

At the same time, commercial banks (Eurobank, National, Piraeus and Attica) are also active in the field of microcredit, either through partnerships that they develop or through special programs with the guarantee of European financial institutions.

Interest rates for microcredit range between 8% and 10%, and despite the fact that they are not cheap loans, the benefit they provide is access to financing for categories of entrepreneurs who are at the...