Start of submissions for the B' cycle of the Action "Subsidy of interest on existing loans of small and medium-sized enterprises affected by the measures to deal with the pandemic of the COVID-19 virus"

Submissions for the 2nd round of the EPANEK Action "Interest subsidy for existing loans of small and medium enterprises affected by the measures to deal with the COVID-19 pandemic" of the NSRF 2014-2020 start today 01/03/21 at 12:00.

The Action concerns the support of businesses affected by the pandemic, in the form of covering the interest of their business loan obligations for a period of 3 months. It concerns companies with an annual turnover of up to 50 million euros and employed staff of up to 250 people and covers the months of January, February and March 2021.

Applications are submitted electronically to the State Aid Management Information System www.ependyseis.gr/mis until 7/5/2021 at 3:00 p.m.

In order to have a smooth flow of submission of applications, the start of the possibility of submission is gradually given based on the last digit of the VAT number of the potential recipient, one digit per day. From the 11th day and up to and including the deadline for submission, all recipients may submit an application, regardless of VAT number.

The total budget of the measure to support the loan obligations of businesses will amount to 200 million euros. Loans must have been current on 9/30/2020 (ie not more than 90 days past due as of 9/30/2020). Loans, which were not up to date on 30/9/020 but became up to date before the submission of the financing application, are also eligible.

The relevant loan/credit agreements must have been concluded before 1/1/2021 and the interest on loans granted with the participation of the Entrepreneurship Fund II and the Business Guarantee Fund of the Hellenic Development Bank is not covered.

In order to participate, businesses must show a reduction in their turnover in 2020 of at least 20% compared to the turnover of 2019. The above condition does not apply to businesses established in 2020.

It is noted that the total amount of public funding that each company can receive (total COVID-19 subsidies including the support of the 2nd Interest Subsidy Cycle) cannot in nominal value exceed the upper limit of 1,800,000 euros.