SMEs can secure cheap credit

As of Thursday all small and medium-sized businesses have access to up to 75% cheaper loans compared to the average interest rate applying today, which is between 7% and 9%, through the three new funds launched by the Hellenic Development Bank (HDB), becoming available by all commercial banks.

The easing of borrowing costs for businesses through the three new programs results from the co-financing of the loan by 40% from state funds, while for the remaining 60% that will be financed by the bank the cost of financing will be reduced by 3% for the first two years of the loan with the application of the partial interest rate subsidy. According to estimates, the subsidy will result in a total reduction in borrowing costs that can exceed 75% in some cases.

Besides the subsidy, the facilitation of businesses in terms of the application submission process is also significant...