Working capital of up to €200.000 for the construction sector professionals
The aim of the new Fund is to significantly expand access to finance.
The operation of the recently established Guarantee Fund HDB - TMEDE is expected to give easy access to low cost financing to Greek professionals in the construction sector.
It concerns the guarantee for working capital up to €200.000 on favorable terms, for every engineer, designer and builder who has undertaken the execution of a project or study of public interest. The loan will be granted through the banking system, while the Guarantee Fund co-created by the Hellenic Development Bank (EAT-HDB) and the Fund for Civil Engineers (TMEDE), provides a guarantee to the banks for 80% of the financing.
The aim of the new Fund is to significantly expand access to finance, with transparency and simplification of bureaucratic procedures, of Greek engineers, designers, manufacturers and thousands of scientists - freelancers as well as small and medium enterprises.
The "EAT-TMEDE Guarantee Fund" is co-financed by 70% from the resources of the Public Investment Program and by 30% from the funds of the Fund for Civil Engineers (TMEDE). The Fund is managed by the Hellenic Development Bank (HDB).
It is worth noting that this is the first cooperation of the Hellenic Development Bank - HDB with a private body, the Fund of Civil Engineers (TMEDE) and in fact for the creation of a financial tool with thematic / sectoral reference, benefiting the construction design industry.
The "EAT-TMEDE Guarantee Fund" provides a guarantee for loans granted by 9 cooperating banks (AlphaBank, National Bank, Eurobank, Piraeus Bank, AtticaBank, OptimaBank, Cooperative Bank of Thessaly, Cooperative Bank of Karditsa, and Karditsa Cooperative Bank) in order to facilitate access to lending for Greek engineers, designers, builders, but also the thousands of freelance scientists, as well as small and medium enterprises.
Through the "EAT-TMEDE Guarantee Fund" every beneficiary who has undertaken the execution of a project or study of public interest, can receive working capital, through bank lending, up to € 200.000 with the Hellenic Development Bank (HDB) and TMEDE to take part business risk by providing a guarantee to the banks for 80% of the financing.