Reinforcing Med Microfinance Network System for Start-ups

Greece National Mesures – PIRAEUS EASI

Name of responsible organization: Private Bank & Financial Stability Fund (FSF) & European Investment Bank (EIF)
Starting year (of measure)2014End year2022
The Employment and Social Innovation (EaSI) programme is a financing instrument at EU level to promote a high level of quality and sustainable employment, guaranteeing adequate and decent social protection, combating social exclusion and poverty and improving working conditions.  Two systemic Banks in Greece (PIRAEUS & NBG) still provide the EaSI funding solution. Piraeus Bank offers 3.000€ (for farmers 1.000€) to 25.000€, IR 6,45-8,60%, duration up to 5 years and payout up to 1 year after.   For the period 2021 – 2027 the EaSI programme will become a strand under the European Social Fund Plus (ESF+).

What kind of activity does this measure finance?

Creation of new businessesYes
Strengthening of existing businessesYes
Specific investments – specify type (i.e. innovation, research, environmental transition, hiring, internationalization, purchase of goods)Yes – HR costs, Space rent, Marketing, Promotion, purchase of Equipment, raw materials or goods for commerce.
Training activitiesNo
Other (specify)No

What type of financing is it?

Low-interest loan (indicate the repayment time and, if present, the requirement for collateral)25.000€, IR 6,45-8,60%, duration up to 5 years. No collaterals
Non-repayable grant (indicate the percentage of non-repayable fund)No
If Yes, percentage of non-repayable fund:
Tax creditYes/No
Other (specify)No

How does the activation of the measure work?

One-stop means Visit to the Bank, web banking
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 financed3.000€ (for farmers 1.000€)
Maximum amount that can be financed25.000€
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)

Piraeus EaSI is available only to Companies (legal entities) with no pending loans or taxes. 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?

YESYes, therefore for the period 2021 – 2027 the EaSI programme will become a strand under the European Social Fund Plus (ESF+)

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
ReSt@rts Logo

If you do not already have a ReSt@rts Account follow the link to request one.