TEPIX III (Entrepreneurship Fund III) gives small and medium-sized businesses access to loans on particularly favourable terms.
From 29/05/2024 the €2.2 billion of the new Entrepreneurship Fund (TEPIX III) are available to small and medium-sized businesses.
What TEPIX III is
The TEPIX III Loan Fund was created under the Entrepreneurship Fund III. Specifically, it gives small and medium-sized businesses investment loans and special-purpose working capital loans, on favourable terms.
The aim of the Fund is to improve access to funding for small and medium-sized businesses (SMEs). It also aims to strengthen their production and improve their products and services. This way, their competitiveness in international markets improves too.
TEPIX III has a budget of €500 million. With leverage from the banking system, loans of €2.2 billion are expected to reach SMEs. It is the first time that a loan guarantee and an interest subsidy are offered together.
Which businesses can get a TEPIX III loan
The Fund is for small and medium-sized businesses with an eligible activity code, according to the published list. They must also be established and operate lawfully in Greece.
The two funds of TEPIX III
TEPIX III is funded by ESPA 2021-2027. Specifically, it consists of two separate funds: the Guarantee Fund and the Loan Fund.
The Guarantee Fund
The Guarantee Fund guarantees 70% to 80% of investment loans, from €10,000 to €10 million. It also guarantees working capital and revolving credit loans, from €10,000 to €500,000.
It also subsidises the interest rate for two years. The subsidy is two percentage points for businesses in Attica and the South Aegean. In the other regions, such as Crete, it is three percentage points. Finally, loans of up to €50,000 need no collateral.
The Loan Fund
The Loan Fund gives loans with 40% of the amount interest-free. It also subsidises the interest on the remaining 60% by 3% for 2 years. Overall, the interest on these loans is reduced by up to 70% for the first 2 years.
Term and payout of TEPIX III loans
Investment loans run from 5 to 12 years, with a grace period of up to 24 months. On the other hand, special-purpose working capital loans run from 2 to 5 years, with a grace period of up to 12 months. During the grace period, the business pays interest only.
The loan is paid out in one go or in instalments, within four (4) months of signing the loan agreement. However, with payouts in instalments the whole loan must be paid out within twenty-four (24) months. In any case, the final payout date is 31.12.2029.
How we help you with TEPIX III
First, you call us on 2810 330752 or send us a message from the Contact page. Within one working day we call you back, to understand the business and what you need.
Next, we review your details and find the services or programmes that suit you. Finally, we give you a clear proposal with a plan, cost and timetable. To get started, book an appointment for TEPIX III.
Email: [email protected]
See also
Funding programme planning and management
Official source: Hellenic Development Bank
