Farmers: additional EUR 40 million from the Fund for Small Loans for Rural Entrepreneurship

In cooperation with the HDB, it participates in the re-enactment of the Fund for Small Loans of Rural Entrepreneurship, using additional resources of EUR 40 million. The aim of Piraeus Bank’s cooperation with the Greek Development Bank – HDB is to finance professionals in the primary sector (farmers and farmers), as well as small and medium-sized enterprises, active in the production of agricultural products and food processing, with a final agricultural product (processing agricultural enterprises). Loans from the Fund for Small Loans for Rural Entrepreneurship allow eligible creditors, on the basis of the business plan to deposit, to cover both investment needs and operating costs. Loans range from 3,000 euros to 25,000 euros, lasting from 2 to 7 years. For the first two years they are interest-free, as their interest rate is 100% subsidized by the Fund, while for the remaining period, their interest rate will be reduced by 50%, compared with the interest rate on corresponding loans, due to this interest-free contribution. The additional advantage of these loans is the fact that no collateral instruments are required to receive them. Eligible enterprises/farmers may also make use of technical and advisory services (mentoring) through partnering companies with the Bank. For technical and advisory support, the farmer company may receive an additional 300€ grant under this programme. Piraeus Bank, supporting farmers at every step of the way, informs all relevant beneficiaries of the Action, that they can submit the two necessary applications today: On the 1st on the KYC (Know Your Customer) platform of the Hellenic Development Bank www.hdb.gr, to get the unique password and the 2nd on the State Aid Information System (PSP) www.ependyseis.gr, selecting Piraeus Bank. Upon completion of the procedure for submitting the request, the businessman/gracer may visit one of Piraeus Bank’s stores, providing the application form by the GPA, as well as the necessary documentation for the program to proceed with its funding request. Piraeus Bank has as its strategic choice the integrated and effective support of the agricultural sector, as it considers it has enormous potential for evolution and can be a pillar of development of the Greek economy.