Reinforcing Med Microfinance Network System for Start-ups

Greece National Mesures – ALPHA COSME

Name of responsible organization: ALPHA BANK
Starting year (of measure)2014End year2022
Through COSME, EIF offers guarantees and counter-guarantees, including securitisation of SME debt finance portfolios, to selected financial intermediaries (e.g. guarantee institutions, banks, leasing companies, etc.) to help them to provide more loans and leases to SMEs.   Two systemic Banks in Greece (NBG & ALPHA) still provide the EaSI funding solution. ALPHA provides 10.000 to 150.000€, IR equals the 6month average BEX rate, duration up to 5 years and payout up to 1 year after. Low collateral.

What kind of activity does this measure finance?

Creation of new businessesNo
Strengthening of existing businessesYes
Specific investments – specify type (i.e. innovation, research, environmental transition, hiring, internationalization, purchase of goods)No specific investments
Training activitiesNo
Other (specify)It covers recurring liquidity needs, against future sales receivables. Mandatory minimum monthly payment of 5% on each balance (including interest and principal). INTEREST RATE Floating based on BEX

What type of financing is it?

Low-interest loan (indicate the repayment time and, if present, the requirement for collateral)10.000 to 150.000€, IR 6month average BEX rate, duration up to 5 years and payout up to 1 year after. Low collateral.
Non-repayable grant (indicate the percentage of non-repayable fund)No
If Yes, percentage of non-repayable fund:
Tax creditYes
Other (specify)No

How does the activation of the measure work?

One-stop means Visit to the Bank
Call with closing dateNo

Financial entity of the measure (indicate the resources allocated)

Overall amountN/A
% facilitation for each recipientΝ/Α
Minimum amount that can be financed10.000€
Maximum amount that can be financed150.000€
Origin of financial resources (European, State, Regional authority, Municipal authority, other)European Investment Fund (EIF)

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)
ALPHA COSME is available only to Companies (legal entities) with no pending loans or taxes and with a turnover of up to € 2.5 million. No other restrictions exist.

Does the measure provide for accompaniment and training or only financial support?

Financial support + accompaniment/trainingNO
Only Financial supportYES

Is the measure considered a good practice and as such replicable in other national and / or international contexts?

YESNo information for 2021-2027
NONo information for 2021-2027

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

Number of initiatives: N/A informationTotal economic amount: N/A information
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