TODAY IT IS EXPECTED to announce the launch of TEPIX III, a very important tool that will channel resources of €2.2 billion.





The support of start-ups through TEPIX III is particularly promoted, as it will provide special purpose loans to micro and small businesses, which have been operating for less than 5 years. In addition, HDB will provide tools to assist SMEs in their digital and green transition.


Digital Upgrade Fund, with a total budget of €175 million.

Green Co-financed Loans Fund, with a total budget of €415 million.

SIGNIFICANT CHANGES. The new Fund (TEPIX III) will combine the guarantee of loans without a guarantee fee and with a significant interest rate subsidy on the loans granted for two years, both for working capital and for investment projects. Through its guarantee pillar, it guarantees up to 80% of the loan and subsidizes the interest rate by 2 percentage points. In addition, through the interest rate subsidy pillar, 40% of the loan will be interest-free and 60% will be subsidized at 3 percentage points.

WHO IS IT ADDRESSED TO The new fund is aimed at start-ups, new and existing, micro, small and medium companies.


€20 thousand to €1.5 million through de minimis regulation

Up to €10 million with a general exemption regulation


Expenses of business investment plans that have not been implemented at the time of loan approval.

Investment projects can either be implemented within the framework of a state aid program or independently, with an approval decision of a banking institution

Repayment period 5 to 12 years, with the possibility of a grace period of up to 24 months