Greece’s small and medium-sized enterprises (SMEs) are set to receive €330 million in new loans 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 CEO Ismini Papakyrillou.
Reinforcing TEPIX III with Recycled EU Funds
This latest infusion strengthens TEPIX III using repurposed resources from financial instruments under the previous programming period of the NSRF (National Strategic Reference Framework) and EPAnEK/ESPA 2014–2020. According to the Ministry of National Economy and Finance, the reuse of returned funds highlights the multiplier effect of the Hellenic Development Bank’s support tools—demonstrating how initial public investment continues to generate broader economic impact.
A Growing Support Mechanism
Launched in 2024, TEPIX III has already undergone three rounds of capital replenishment within 2025—and in April 2026, its fourth application cycle opened following full absorption of the third round’s resources. To date, the TEPIX III Loan Fund’s total loan budget exceeds €1.3 billion, while its Guarantee Fund holds a portfolio of over €2.4 billion in guaranteed loans.
More than 11,425 loans—totaling over €3 billion—have been disbursed so far under TEPIX III. Ninety percent of beneficiary companies employ fewer than 50 people, and 90% report annual turnover below €10 million.
Key Financing Terms
The TEPIX III Loan Fund offers:
- Investment loans ranging from €20,000 to €8 million, with maturities of 60–144 months and grace periods of up to 24 months;
- Working capital loans for specific purposes, from €10,000 to €500,000, with maturities of 24–60 months and grace periods of up to 12 months.
Forty percent of each loan is interest-free, funded directly by the HDB. The remaining portion benefits from an interest rate subsidy for the first two years.
Through the TEPIX III Guarantee Fund, guarantees of up to 80% are available for:
- Investment loans up to €10 million;
- Working capital or revolving credit facilities up to €500,000.
These guarantees help SMEs access finance with reduced collateral requirements. In addition, both the Loan and Guarantee Funds offer an interest rate subsidy of up to 3 percentage points for the first two years.
Applications are submitted via the HDB’s KYC (Know Your Customer) platform (kyc.hdb.gr) and the Public Investment Programme Management System (OPSKÉ).