The support of micro-enterprises and the self-employed in Greece is gaining new momentum through the design of the Microcredit Fund, which is part of the "Competitiveness 2021-2027" programme of the new NSRF. The fund is expected to start operations in early 2025, with funding to be implemented through the Hellenic Development Bank (HDB). It aims to provide access to capital for businesses that cannot raise finance from traditional banking sources.
Purpose and Benefit for Small Businesses
The Microcredit Fund aims to support micro-enterprises by enabling them to make small investments or cover their working capital needs, thus enhancing their viability and growth. It is an important tool, especially for those entrepreneurs who find it difficult to access traditional bank finance.
Timetable and Cooperation with Banks
By the end of the year, the necessary agreements with banks and microfinance institutions licensed by the Bank of Greece are expected to be completed. Thus, in the first quarter of 2025, the disbursement of the first loans to beneficiaries is expected to start.
Strengthening skills and providing support
This financial instrument aims to provide microcredit to entrepreneurs with the aim of:
- The development of entrepreneurial skills
- Support for business development, such as through training, mentoring, coaching, and consulting
- Covering operational needs in the form of working capital or small investment projects
Budget and Available Funds
The budget for this action amounts to €60 million, with microcredits generally limited to amounts of up to €25,000. These loans will be made available to boost liquidity and support small investment projects to help businesses meet their day-to-day needs.
The exact start date for applications is expected to be announced soon, offering small businesses the opportunity to take advantage of an important financing tool that boosts their growth potential.
With the launch of the Microcredit Fund, entrepreneurs who in the past found it difficult to obtain capital due to banking market restrictions have new opportunities to support and develop their businesses.
To express interest in subsidized programs, fill out the evaluation form and a representative from the relevant department will contact you immediately!
Business evaluation questionnaire for inclusion in funding and subsidy programs
