Action "Setting Up Businesses & Enhancing New Micro and Small Enterprises"

The Action "Setting Up Businesses & Enhancing New Micro and Small Enterprises in Areas of Territorial Just Transition Plans of the Region of Western Macedonia & Megalopolis" seeks to strengthen the local economy by supporting the establishment and development of new businesses and protecting existing jobs and creating new ones, in order to address the challenges of globalization and the transition to the post-lignite era.

The total budget of the action amounts to €20.000.000, allocated as follows:

€14.000.000 for the Region of Western Macedonia
€6.000.000 for the Region of Peloponnese.

Τhe Action in detail

Subsidized Budget

The subsidized budget for the submitted business plans ranges from €20,000 to €100,000. For investment projects with a budget of more than €100,000, the excess amount will be treated as private participation, while the evaluation, monitoring and control will concern the entire investment project.

Beneficiaries of Actions

New and under establishment micro and small enterprises based in the Region of Western Macedonia (Municipalities of Kozani, Florina, Kastoria, Grevena) and in the Region of Peloponnese (Municipalities of Megalopoli, Oichalia, Gortynia, Tripoli)

Under establishment: companies that will file commencement of business operations with the competent Tax Office after the electronic submission of the funding application.

Start-ups: businesses that have started operations and, as at the date of electronic submission of the funding application, have less than (2) complete closed business years behind them (for which the appropriate tax forms have been submitted), i.e. started operations as of January 1, 2021 (01-01-2021) and after.

Eligible Expenses

Indicative expenses eligible for the action are all those related to the acquisition of:

Equipment & means of transport (Equipment for the installation of photovoltaic plants and storage systems for electricity production and coverage of own needs (self-production), electric means of transport (up to €50.000), circular economy equipment, automation / IT systems, digital office equipment, production & mechanical equipment, Equipment for environmental protection and energy saving etc.). Mandatory expenditure for Environmental Protection and Energy Saving amounting to at least 30% of the subsidized budget.
Buildings & Surroundings (Building interventions for the protection of the Environment, Energy Saving, Water and Waste Treatment, Buildings, facilities and surrounding area)
Provision of services related to digital upgrading (advisory and/or technical support for monitoring the implementation of the investment plan, Software supply/use services under "Software as a Service", "cloud computing" or similar, participation in trade fairs, promotion and extroversion, technical studies, etc.)
Software (website development, e-shop, mobile applications, software and software usage rights)
Indirect expenses. Mandatory 7% of the eligible direct expenses of the investment project.

Subsidy Rates

The percentage of state funding (grant) can reach up to 70% of the budget of the funding application.

Application Procedure & Submission Dates

The application period began on 08.02.2024 and ends on 08.04.2024 (at 15:00).

The maximum duration of completion of the physical and financial object of the investment should not exceed twelve (12) months for the 1st Action from the date of issuance of the Decision on the Approval of Evaluation Results.

The submission process is carried out through the Integrated State Aid Management Information System (OPSKE), with the evaluation being comparative.

Aid regime

The aid falls under the framework of EU Regulation No. 2023/2831 on de minimis aid.

What we do for you

Contact your Business Banking Advisor (Business Banking RM) today and learn about our financing products and the tools we offer for the implementation of your development plans.

In the submission phase of the grant application

Loan approval or loan agreement from a financial institution. The relevant document to be submitted should indicate the basic terms of the loan, such as:

Object and budget of the financed investment
The amount of the approved loan
The duration and time of its repayment
the financing rate
The guarantees required for its granting.

If the funding is approved, the relevant supporting documentation should not state that the financing is granted, within the framework of the program, by assignment of the grant.

In the implementation phase of the investment by means of the Program

Granting of:

short-term lending against assignment of the subsidy.
long-term lending to cover part of the private participation (it can also be carried out through an open current account).
a Letter of Guarantee for Advance Payment for 40% of the state funding. The Letter of Guarantee for Advance Payment is issued in favour of EFEPAE with a validity period of indefinite duration.

The potential beneficiary must submit, by the time of the first request for verification – certification of expenses, the Loan Agreement for long-term borrowing, the content of which shows that the loan concerns the financing of the specific investment, otherwise the beneficiary should submit a request to amend the terms of the Financing Scheme.

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