Micro-Agri Loans Fund for Agricultural Entrepreneurship

Granting a micro loan and/or working capital, which must be combined with investment purposes.

Funding is to cover expenditure, indicatively for:

• the acquisition of tangible and intangible assets
• the acquisition of new & used equipment and machinery
• VAT eligible expenditure
• live animals
• plants and their planting

• The interest rates are additionally charged with the contribution of Law 128/75 for the entire loan, which currently amounts to 0.60% or 0.12% depending on the main professional agricultural activity. The customer's final interest rate is determined on the basis of the bank's current pricing policy and an assessment of the customer's creditworthiness.
• In case of arrears of more than ninety (90) consecutive calendar days during the first 2 years, the interest rate subsidy will cease permanently and the interest will be paid by the customer.

Eligible categories of customers for funding are:

• Professional farmers, young farmers, agricultural cooperatives, producer groups and organisations
• SMEs that are established and operating in Greece, and are being active in processing / marketing and/or development of Agricultural Products in specific sectors (*)

and meeting, among others, the following eligibility criteria:

• It is established and operated legally in Greece
• It is classified as very small, small or medium enterprises
• It is considered a credit-acceptable business and is tax and insurance aware at the time of loan disbursement, based on the bank's criteria
• There are no grounds for exclusion of Article 40 of Law 4488/2017 (A 137/13.9.17), as applicable
• No financial correction decision is pending against them for amounts unduly paid from the EAFRD
• Not have been subject to collective insolvency proceedings or meet the conditions under the domestic law to which they are subject to be subject to collective insolvency proceedings at the request of their creditors. As at 31.12.2019 they are not considered problematic (as mentioned in point 18 of article 2 of Regulation 651/2014). In case of Very Small and Small Enterprises regardless of whether they were “in difficulty” on 31.12.2019, they are eligible provided that they have not been subject to collective insolvency proceedings under national law and have not received rescue aid or restructuring aid, or if they have received rescue aid , they have repaid the loan or terminated the guarantee agreement at the time of submitting this application or if they have received restructuring aid, they are no longer subject to a restructuring plan at the time of submitting this application. This also applies to SMEs which, even if they were in difficulty on 31.12.2019, have taken corrective actions before submitting the funding request as well as to those who submit an application to PSKE from 1 July 2022 onwards under the De minimis regulation.
• It is not active in prohibited sectors, as defined in the relevant policy of the Fund administrator

(*)

• Meat, such as  cattle, poultry, pigs, sheep and goats slaughterhouses, meat and production of meat products, sausage units, animal by-products processing plants
• Milk, such as milk processing, production of dairy products, cheese, yoghurt
• Eggs, including egg packing
• Sericulture, apiculture, heliciculture
• Feed, such as the production of animal feed mixtures for the rearing of domestic animals, as well as animals used for the production of fur
• Cereals, such as flour production, cereal drying
• Oil products, excluding the establishment of new olive oil mills
• Wine
• Fruits and vegetables
• Flowers, such as flower packing and marketing
• Pharmaceutical and aromatic plants
• Seeds and propagating material
• Vinegar, such as production of vinegar from wine, fruit and other agricultural raw materials

• Visit the KYC (Know Your Customer) platform of the Hellenic Development Bank www.hdb.gr to receive the unique eligibility code
• In www.ependyseis.gr, select Piraeus Bank

Then you print the application form, collect the required documents and present them to the bank branch that serves you.

Once the application process has been completed at www.ependyseis.gr/mis, you may visit a Piraeus Bank branch, bringing along the printed application form.