Pan-European Guarantee Fund (EGF)

• Business loans of investment purpose and working capital (amortization or Open Revolving Accounts), loan amount up to 750.000 €, with the possibility of gradual disbursements. Submission of invoices is necessary to prove the purpose of the funding. Consumer and housing loans are not included in the programme.
• Possibility of grace period, with options:
  • Payment of interest during the grace period, on the basis of the agreed periodicity of interest.
  • Payment of interest at the end of each calendar semester.
• Favourable interest rate, similar to the company’s credit rating, with a reduced margin compared to the normal interest margin that the Bank would apply, in accordance with its pricing policy, to similar financings not covered by the EIF Guarantee.
• Guarantee by the European Investment Fund at a rate of 70% of the outstanding balance of the loan.
• The grant may be integrated either into the “De minimis” or “Temporary Framework” funding framework, with the restrictions on the amount of total funding applicable respectively.

Small and medium-sized enterprises – SMEs, i.e. Micro, Small and Medium-sized Enterprises according to regulation (2003/361/EC). In addition, it is possible to finance Small Mid Cap enterprises, i.e. not SMEs but with a staff of up to 499 people.

Excludes: companies in difficulty on the date of 31/12/2019 and ineligible activities (common to almost all European programs – illegal, such as tobacco, alcohol, random games and so on). There are restrictions on the purpose of the financing, based on environmental/energy criteria.

Interested parties can obtain further information through the Cooperative Bank of Chania  branches and at the following address of the European Investment Fund

https://www.eif.org/what_we_do/egf/index.htm