| ALPHA COSME | |||
| Name of responsible organization: ALPHA BANK | |||
| Website: www.alpha.gr | |||
| NATIONAL OR LOCAL | N | ||
| Starting year (of measure) | 2014 | End year | 2022 |
| 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 businesses | No |
| Strengthening of existing businesses | Yes |
| Specific investments – specify type (i.e. innovation, research, environmental transition, hiring, internationalization, purchase of goods) | No specific investments |
| Training activities | No |
| 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 |
| Tax credit | Yes |
| Other (specify) | No |
How does the activation of the measure work?
| One-stop means | Visit to the Bank |
| Call with closing date | No |
Financial entity of the measure (indicate the resources allocated)
| Overall amount | N/A |
| % facilitation for each recipient | Ν/Α |
| Minimum amount that can be financed | 10.000€ |
| Maximum amount that can be financed | 150.000€ |
| 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)
| Female | Over 50 | Unemployed (specify any type) | Disadvantaged groups (specify type) | Youth (specify age range) | Other (specify) | |
| Individual | ||||||
| Company |
Does the measure provide for accompaniment and training or only financial support?
| Financial support + accompaniment/training | NO |
| Only Financial support | YES |
Is the measure considered a good practice and as such replicable in other national and / or international contexts?
| YES | No information for 2021-2027 |
| NO | No 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 information | Total economic amount: N/A information |
