HDB and TMEDE partnership
The Hellenic Development Bank (HDB) addresses a Call for Cooperation to the Banking System of the country, with the aim of launching the "Guarantee Fund EAT-TMEDE" in the framework of its cooperation with the Greek Engineers and Public Works Contractors Fund (TMEDE) in an efford to facilitate access to finance for Greek engineers, designers and manufacturers.
New Guarantee Fund with the aim of supporting Construction and Design Companies.
This is the first time that the Hellenic Development Bank has partnered with a private entity.
This creates a very important development tool, which was designed and implemented directly by the Hellenic Development Bank (HDB) after the signing of the memorandum of cooperation with TMEDE, on May 17, 2021.
The purpose of the Fund is to provide collateral for loans granted by cooperating banks, in order to facilitate access to lending for companies in the Construction and Design sector.
Through the "HDB-TMEDE Guarantee Fund" each beneficiary can receive working capital, through bank lending, for an amount of up to € 200,000 with the Fund assuming part of the credit risk by providing a guarantee to the banks for 80% of the financing.
• In addition, there is the possibility of subsidizing the provision of collateral, as an additional element of reducing the cost of borrowing companies.
This facilitates immediate and practical access to finance for thousands of freelancers & businesses, with a completely transparent, fast and efficient process.
It is a constant goal of the Hellenic Development Bank (HDB) to act as a catalyst for expanding the scope of companies financed by the Banking System by assuming part of the credit risk and strengthening entrepreneurship, with transparency and simplification of bureaucratic procedures.
The deadline for banks to submit an expression of interest was set for August 25th.
See the call for interest here