Guarantee Fund HDB - TMEDE

The enhancement of the liquidity of of SMEs in the construction and engineering sector, which intent to undertake or have undertaken the execution of a public interest project and/or study, regardless of the stage of execution of the project or study, through the provision of guarantees. 

This funding should in no way be related to:

• refinancing / repayment of existing borrowing or credit lines
  
• financing of a dividend payment program or purchase of shares
  
• financing of Acquisitions and Mergers

Reduced collateral requirements due to the guarantee provided by HDB.

In one lump sum or in installments.

The guarantee fee is subsidized by the Hellenic Development Bank – HDB, constitutes state aid and is included in the Gross Grant Equivalent.

The programme is aimed at Small and Medium Enterprises (manufacturers, designers, engineers) that intent to undertake or have undertaken the execution of a project and/or public interest study regardless of its stage of execution.

The program is open to Small and Medium Enterprises (definition of SMEs (Annex I of EP 651/2014) of the construction and engineering sector, which intent to undertake or have undertaken the execution of a public interest project and study that operate legally in Greece.

The following eligibility criteria must be met:

• They intent to undertake or have undertaken the execution of a project and/or study of public interest and are active in specific eligible sectors.
  
• Τhey have been set up until the time of submitting the application for financing to the bank
• They are not considered problematic (according to point 18 of article 2 of Regulation 651/2014) at the time of granting the aid (at the level of a given enterprise)
• Meet the conditions of nos. 1-9 (Chap. I) of Reg. 651/2014 and the conditions set in art. 21, par. 18.
• 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.
  
• They do not have overdue debts over 90 days when submitting application for funding
  
• There are no grounds for exclusion of article 40 of law 4488/17 (A 137/139/17), as in force,
  
• There is no pending recovery order of previous illegal and incompatible state aid based on an EU or WEU decision.
  
• In case the enterprise has previously joined HDB (formerly ETEAN) programs that have expired or are in force, should not show adverse transactional behavior in debt repayment, such as a loan complaint or relevant overdue debts over ninety (90) days or in the case of adverse transaction behavior the recipient has fully repaid his debt before submitting the application for funding or in the event of adverse transaction behavior: (a) in the case of a guarantee scheme, the amount of a guarantee owed has not been paid. Once the said debt has been confirmed to the competent Tax Office, it has been included in a regulatory regime, which continues to be in force on the date of submission of the application.