InvestEU Innovation & Digitalisation loans in cooperation with EIF

Piraeus Bank in cooperation with the European Investment Fund, offers the financing of the guarantee Fund InvestEU Innovation & Digitalisation to Small Medium Enterprises and small Mid-Caps, on preferential terms and reduced collaterals.
IDEAL FOR

Small Medium Enterprises and small Mid-Caps aiming to enhance Research and Innovation, as well as to support the uptake of digital technologies and their digital transformation.
REPAYMENT METHOD
  • monthly
  • quarterly
  • semi - annual
  • annual installments that pay principal & interest
  • only interest payments for revolving credits, for the first 4 years
INTEREST RATE
Variable based on BLR, BMLR, BRF or Euribor

+ spread
OTHER FEATURES
  • Favourable pricing for eligible businesses
  • EIF Guarantee up to 80% of the loan amount
  • Reduced collaterals
IDEAL FOR

Small Medium Enterprises and small Mid-Caps aiming to enhance Research and Innovation, as well as to support the uptake of digital technologies and their digital transformation.

REPAYMENT METHOD
  • monthly
  • quarterly
  • semi - annual
  • annual installments that pay principal & interest
  • only interest payments for revolving credits, for the first 4 years
INTEREST RATE
Variable based on BLR, BMLR, BRF or Euribor

+ spread
OTHER FEATURES
  • Favourable pricing for eligible businesses
  • EIF Guarantee up to 80% of the loan amount
  • Reduced collaterals

Eligibility criteria

Eligible companies are the ones that meet the following criteria:

  • Very Small, Small or Medium-Sized Enterprises, i.e. they employ up to 250 employees calculated in annual work units (EMU) and the Turnover of the last closed year does not exceed € 50 million or the Assets does not exceed € 43 million.
  • Small Mid-Caps, i.e. they are not SMEs and they employ up to 500 employees calculated in annual work units (EMU), despite the Turnover and Assets of the last closed year. The participation of the small Mid-Caps refers only to the Innovation section and not the Digitalisation one.
  • Companies that are based, operate and will invest within the Greek territory
  • Do not operate on one or more Restricted Sectors, as descripted below
  • They are not involved in Illegal Activities
  • They are not Sanctioned Persons
  • They fulfill one or more of the Thematic Eligibility Criteria of the «Innovation & Digitalisation»

For the eligibility criteria of the program please click here (available only in Greek)

Features

Purpose

  • Funding for Very Small, Small or Medium-Sized Enterprises, Professionals and Farmers, small Mid-Caps, to cover their investment plans or to enhance their liquidity with working capital.
  • Investment loan expenditures relate to costs of tangible and intangible assets (e.g. purchase of equipment, modernization of facilities, acquisition of software, etc.)
  • Working capital expenditures can meet the current needs of businesses (e.g. purchase of raw materials & goods, salaries, rents, etc.)
  • The Loans should be new business financings, to be granted within the availability period.

Loan Amount

Loan amount from €10.000 to €7.500.000

The total loan amount under this Programme cannot exceed €7.5 million per company.

Loan Duration

  • Investment loan: tenor from 1 to 10 years
  • Working Capital (Term loan): tenor from 1 to 8 years
  • Revolving Credit for Working Capital with tenor of 4 years (upon maturity, possibility of conversion into Term Loans, for additional 6 years, while the guarantee remains in force, with a maximum total term of 10 years.)

Grace Period

  • Up to 1 year for working capital (term loan)
  • Up to 2 years for investment loans

Currency

Euro (€)

Interest Rate

Variable based on BLR, PLR, BLF or Euribor + spread

The interest rates are charged with the interest margin and the contribution of L.128 / 75, which currently amounts to 0.60% or 0,12% depending on the main economic farming activity. The customer's final interest rate is determined on the basis of an assessment of its Creditworthiness.

Repayment

Medium Sized companies (with turnover over €2.5 million):

  • Term Loans: Monthly, quarterly, semi-annual or annual installments (capital and interest)
  • Revolving Credit for Working Capital: Monthly, quarterly, semi-annual or annual interest payments and free capital payments for the first 4 years


Small Businesses (with turnover up to €2.5 million):

  • Term Loans: Monthly installments (capital and interest)
  • Revolving Credit for Working Capital: Monthly interest payments and free capital payments for the first 4 years

Farmers:

  • Term Loans: Monthly, quarterly, semi-annual or annual installments (capital and interest)
  • Revolving Credit for Working Capital: Monthly, quarterly, semi-annual or annual interest payments and free capital payments for the first 4 years

Disbursements

One-off or Partial instalments.

Early repayment

Early partial or full repayment is possible without any charge.

The capital repaid cannot be refinanced, except for the case of revolving loans.

Collateral

Reduced collaterals due to the guarantee of the Fund.

Availability Period

The availability period is until 28.12.2026, or earlier if the budget is being absorbed.

How to get it

To learn more about Loans in cooperation with European Investment Fund under the “InvestEU Innovation & Digitalisation” as well as about the process of their acquisition:


“Final Recipient Transaction benefits from support from the European Union under the InvestEU Fund.”

"Final Recipient Transaction is funded by the European Union – NextGenerationEU with the financial backing of Greece under the InvestEU Member State Compartment for Greece.”