The Cooperative Bank of Chania, continuing its support for small and medium-sized enterprises, participates in the new business fund “TEPIX III” managed by the Hellenic Development Bank (HDB SA).

The Bank offers the new financing tools of TEPIX III to very small, small, and medium-sized enterprises, supporting their investment plans and providing liquidity with favorable terms, reduced collateral requirements, and interest rate subsidies.

TEPIX III Loan Fund

The Cooperative Bank of Chania participates in the “TEPIX III Loan Fund,” providing loans with favorable terms to meet the financing needs of businesses based in Greece, aiming to strengthen their productive activities and enhance their competitiveness. This initiative involves offering new loans with favorable terms to SMEs for their financing needs (investment loans and working capital to expand and develop business activities), funded by both the Bank and the Co-Financing Fund managed by HDB. These are fixed-term loans with a preferential interest rate. Forty percent of the loan amount funded by the Fund is interest-free, while for the Bank’s interest rate applied to 60% of the loan amount, the following conditions apply:

– A reduction in interest rate of at least 25 basis points compared to similar financing without public support.
– A two-year interest rate subsidy of 3% annually (subject to conditions).
– Reduced collateral requirements.

TEPIX III Guarantee Fund

The Cooperative Bank of Chania also participates in the “TEPIX III Guarantee Fund” for providing guaranteed loans with favorable terms to SMEs based in Greece to cover working capital needs (fixed-term and revolving credit) and investment loans, following the submission of a business plan.

The Guarantee Fund consists of two sub-programs/sub-funds depending on the characteristics of eligible businesses:

– The “General Entrepreneurship” sub-fund, targeting SMEs.
– The “Startup Entrepreneurship” sub-fund, targeting very small and small businesses up to five years old.

Loans under the “General Entrepreneurship” sub-program will be guaranteed by the Guarantee Fund at 70%, while loans under the “Startup Entrepreneurship” sub-program will be guaranteed at 80%. The Fund will provide an interest subsidy of up to 3% for the first two years of financing for businesses meeting specific criteria, as well as a zero guarantee fee.

Application Process for the TEPIX III Loan and Guarantee Funds

Eligible businesses can submit an electronic application through:

A) The Hellenic Development Bank’s KYC (Know Your Customer) platform at www.hdb.gr, selecting the Cooperative Bank of Chania as the partnering bank. For each completed application, after eligibility assessments, the application is forwarded to the Bank. If the application is initially accepted, a non-binding offer is issued, and a unique code is generated.

B) The Integrated State Aid Information System (OΠΣΚΕ) at https://app.opske.gr/, where the unique application number from the KYC platform must be entered for the business to continue the submission and completion of the electronic application with the Bank that issued the non-binding offer.

For information and appointments, contact the Bank’s Branch Network and ATMs.