The loan segment of the Entrepreneurship Fund III (TEPIX III) resumed on Monday with additional resources from the NSRF program ‘Competitiveness 2021-2027’, with the aim of further financing small and medium-sized entrepreneurship with low-interest loans and extending the reach of SMEs with access to the banking system.
Specifically, the TEPIX III Loan Fund will finance additional new loans to SMEs, which are expected to exceed 250 million euros, by leveraging bank capital.
This increase was decided after the exhaustion of the available resources for the co-financed investment and working capital loans, granted so far by the TEPIX III Loan Fund and which exceeded 450 million euros.
Main features of the loans
– Investment Loans: Loan amounts from 20 thousand to 6 million euros, duration from 2 to 12 years, with a grace period of up to 24 months.
– Special Purpose Working Capital Loans: Loan amounts from 10 thousand to 500 thousand euros, duration from 2 to 5 years, with a grace period of up to 12 months.
– Financial support: 40% of the loan amount is interest-free for the entire duration of the loan, while for the remaining 60% an interest rate subsidy of up to 3% is provided for the first 2 years.
– Grace period: During the grace period, businesses repay only the interest, without requiring repayment of capital.
