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Greek small businesses to get up to €50,000 with favourable terms

Minister of Development and Investment Adonis Georgiadis said Greek small businesses would be granted loans up to 50,000 euros through the Hellenic Development Bank at the beginning of the new year. The official announcement will be issued in January with a commitment of 450 million euros.

Speaking today to SKAI TV, Mr. Georgiadis clarified that the difference with the current guarantee will be that companies will need less collateral to get the loans, so more companies will receive them.

He also said that there are thoughts from January, for the state to undertake to pay not only interest but also part of the installment of business loans.

The Minister added that the percentage that the beneficiaries would not be obliged to return to the Refundable Advance 5 would be substantial and that the Refundable Advance 5 would be disbursed to almost all companies.

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