Reinforcing Med Microfinance Network System for Start-ups

Ellinas Finance Public Company Limited

  1. What are the existing microfinance measures in the country today? (indicate the number of measures)
TYPE OF MEASURE  MEASURE (indicate the names of the measures)
NATIONALEllinas Finance Public Company Limited  
LOCAL (provincial, regional, municipal or equivalent territorial reality) 

B)     For each MEASURE ( to repeat for each measure)

Name/Title: Nearchos Petrides – Chief Executive Officer
Name of responsible organization: Ellinas Finance Public Company Limited    
Starting year1992End yearongoing
Short term and medium term lending to individuals and companies, financing of investor accounts, factoring services, microfinance, private equity in Cypriot and foreign companies, international money transfers (through the MoneyGram International payment system), people advisory services (personal income tax, social security and immigration compliance /advisory services) and payroll outsourcing /advisory services. Loans, SME financing, VCs, Equity, microfinance loans    
  1. What kind of activity does this measure finance?
Creation of new businesses  Yes
Strengthening of existing businesses  Yes
Specific investments – specify type (i.e. innovation, research, environmental transition, hiring, internationalization, purchase of goods)  Yes Various, Technology, Innovation  
Training activities  No
Other (specify) 
  • What type of financing is it?
Low-interest loan (indicate the repayment time and, if present, the requirement for collateral)Yes, IR 9%  
Non-repayable grant (indicate the percentage of non-repayable fund)No If Yes, percentage of non-repayable fund:
Tax credit 
Other (specify) 
  • How does the activation of the measure work?
One-stop meansYes
Call with closing date 
  • Financial entity of the measure (indicate the resources allocated)
Overall amount100k    
% facilitation for each recipient 
Minimum amount that can be financed 
Maximum amount that can be financedn/a  
Origin of financial resources (European, State, Regional authority, Municipal authority, other)European,other
  • Type of funded social structure (indicate if belonging to a specific category is required in order to access the measure)
 FemaleOver 50Unemployed (specify any type)Disadvantaged groups (specify type)Youth (specify age range)Other (specify)
  • Does the measure provide for accompaniment and training or only financial support?
Financial support + accompaniment/training 
Only Financial supportYES
  • Is the measure considered a good practice and as such replicable in other national and / or international contexts?

C) How many initiatives have been financed in the last 3 years and for what economic amount?

Number of initiatives 4Total economic amount 400k
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