Innovation Guarantee Fund

The financing of the submitted innovation business plans of eligible innovative small and medium-sized enterprises.

• For Small Businesses and Professionals with a turnover of up to € 2.5 million monthly or quarterly installments principal and interest combined.
  
• For Medium Enterprises with a turnover of € 2.5 million - € 50 million monthly, 3 monthly, 6 monthly or annual installments principal and interest combined or apart.
  

During the grace period, only interest is paid.

One-off or partial.

In case of installments, they must be completed within the grace period and in any case before 31/12/2025

Disbursements will be made upon presentation of the corresponding documents, both for investment and operating expenses.

• Full or partial, at any time, without any charge.
  

In the case of early repayment, in order to be eligible for the subsidy, the remaining balance of the loan must in any case be greater than or equal to the amount of the eligible subsidy.

Guarantee fee is 100% subsidized by HDB.

The program is open to start-ups, new and existing SMEs of any legal form (Individual, OE, EU, LTD, SA, IKE, etc.) that belong to the list of eligible NACE codes, keep diplographic books at the time of application for funding (C Category books) in PSKE and which are considered creditworthy. The following criteria must be met:

• Meet at least one (1) of the twelve (12) innovation criteria (pdf available only in Greek)
  
• Their activity to be eligible
  
• Not to be subject to collective insolvency proceedings under national law and not to have received rescue aid or restructuring aid or to have been declared under compulsory management by creditors
  
• They are considered creditworthy in accordance with current credit policy and internal procedures of credit institutions
  
• They do not have overdue debts over 90 days when submitting application for funding
  
• They do not meet the reasons for the exclusion of article 40 of law 4488/2017 (Government Gazette 138/139)
  
• There is no pending recovery order of previous illegal and incompatible state aid based on an EU or WEU decision
  
• Have not shown adverse credit behaviour in previous programs of HDB (former ETEAN)
  
• No amount of guaranteed debt has been paid to them by HDB or if 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 at the date of submission of the financing application.
  
• They are not purely export-oriented businesses, however, covers costs of participation in trade fairs, studies, consulting services or consulting services necessary for the marketing of a new or existing product in a new market of another Member State or a third country are covered