Microcredit Fund TEPIX III
The Microcredit Fund TEPIX III is a risk-sharing financial instrument that provides investment loans of up to 40% of the total financing and special-purpose working capital loans. It is implemented under the Portfolio Fund “Entrepreneurship Fund III”. Its objective is to support very small entities and individuals engaged in individual entrepreneurial activities, with a focus on female entrepreneurship, as well as other categories defined according to the provisions of Article 15, paragraph 2 of Law 4701/2020 (Government Gazette A’ 128/30.06.2020), who do not have access to traditional banking financing sources. An important feature of the Fund is the provision of business training advisory services (mentoring) to the recipients of microfinance loans. This service is mandatory for the final beneficiary.
Key Features
- The loan amount ranges from €3,000 to €25,000.
- The loan duration is from 12 to 96 months, with a grace period option of 6 months.
- The loan amount is disbursed either in a lump sum or in installments within a period of two months from the date of signing the loan agreement and in any case before the end of the Eligibility Period.
- The financed enterprise is fully exempt from interest on the portion of the loan co-financed by the Fund (60% of each loan for General Entrepreneurship or 75% for Female Entrepreneurship), as this amount is provided interest-free by the Fund.
Participation Requirements
- Average personnel of less than or equal to 10 people.
- Total assets less than or equal to €450,000.
- Net turnover less than or equal to €900,000.
- Natural persons engaged in individual entrepreneurial activity.
- Operate for at least one year since their establishment.
- At the time of submitting the application for inclusion in the Microcredit Fund, they have not been approved for any other EAT program since 1/1/2019.
- Businesses must have been established, that is, have a legal form and a Tax Identification Number (TIN) or have started operations in the case of an individual enterprise, at least one (1) year before the date of submitting the financing application in OPSKE.
Application Period
Funding is available until the available resources are exhausted.