€330 million in new loans will be made available to Greek small and medium-sized enterprises (SMEs) through TEPIX III — the Entrepreneurship Fund managed by the Hellenic Development Bank (HDB). The funding follows a supplementary financing agreement signed by Deputy Minister of National Economy and Finance Nikos Papathanasis and HDB Chief Executive Officer Ismini Papakyrillou.
Reinforcing TEPIX III with Recycled EU Funds
The additional capital comes from the reutilisation of unspent funds originally allocated under the 2014–2020 programming period of Greece’s national development programmes — specifically, the NSRF (National Strategic Reference Framework) and EPAnEK (Operational Programme for Competitiveness, Entrepreneurship and Innovation). According to the Ministry of National Economy and Finance, this reallocation highlights the multiplier effect of the Hellenic Development Bank’s financial instruments.
This latest boost continues a consistent pattern of replenishment and expansion of TEPIX III, responding directly to sustained market demand for accessible SME financing.
TEPIX III at a Glance
Launched in 2024, TEPIX III has already undergone three prior rounds of funding reinforcement. A fourth application cycle opened in April 2026, following full absorption of resources from the third phase. As a result, the total loan budget under the TEPIX III Loan Fund now exceeds €1.3 billion. Meanwhile, the TEPIX III Guarantee Fund holds a portfolio of guaranteed loans worth over €2.4 billion.
To date, more than 11,425 loans — totalling over €3 billion — have been disbursed via TEPIX III. Ninety percent of beneficiary businesses employ fewer than 50 people, and 90% report annual turnover below €10 million.
Key Financing Terms
TEPIX III Loan Fund offers:
- Investment loans: €20,000–€8 million, term of 60–144 months, grace period up to 24 months.
- Working capital loans (special-purpose): €10,000–€500,000, term of 24–60 months, grace period up to 12 months.
Forty percent of each loan is interest-free, drawn from HDB resources; the remaining portion benefits from an interest rate subsidy for the first two years.
TEPIX III Guarantee Fund provides:
- Guarantees of up to 80% for investment loans up to €10 million.
- Guarantees of up to 80% for working capital or revolving credit facilities up to €500,000 — easing access to finance with reduced collateral requirements.
In both cases, borrowers are eligible for an additional interest rate subsidy of up to 3% for the first two years.
Applications are submitted digitally via the HDB’s KYC (Know Your Customer) platform (kyc.hdb.gr) and the Public Investment Programme Management System (OPSKÉ).