The National Bank of Greece, in the framework of its agreement with the European Investment Fund (EIF) totaling 1,600,000,000 euros, participates in the financing program of the Pan-European Guarantee Fund (“EGF”) for the financing of Small and Medium Enterprises (SMEs) and MidCaps.
The program benefits from support from the EGF Guarantee Facility, implemented by the EIF, with the financial support of Member States contributing to the EGF.
The Pan-European Guarantee Fund (EGF) is designed to support companies affected by the effects of the COVID-19 pandemic, but are considered viable in the long run and unable to meet their obligations without the financial impact of the pandemic.
Funding for the program is provided by the 70% guarantee of the European Investment Fund (EIF), which acts on behalf of the EGF, and is aimed at Small and Medium-sized Enterprises with up to 499 employees (in annual work units) and are offered for all financing purposes (investment implementation, working capital provision, refinancing of existing loans), through all forms of financing (short-term or medium-term financing in the form of One-Time Loans, Revolving Capital Limits and :
– maximum amount of funding 5m. euro,
– maximum funding period of 10 years, with the possibility of a grace period, and
-favorable financing rate due to the EIF guarantee.
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