Support for investment plans of SMEs newly established or under establishment

In the framework of the new "NSRF 2021-2027", the Action titled “Support for investment plans of SMEs that are newly established or under establishment, implemented in the mainland Areas of Territorial Just Transition Plans of the Region of Western Macedonia & Megalopolis” aims to strengthen the investment plans of SMEs that are newly established or under establishment, in order to address the social, employment, economic and environmental impacts in lignite phase-out areas. The Action also aims at supporting the transition to a climate-neutral economy and balanced and sustainable growth, as well as safeguarding existing jobs and creating new ones.

The total budget / state expenditure of the Action amounts to €65,000,000, and shall be allocated per region as follows:

Western Macedonia €45,500,000
Megalopolis €19,500,000

Τhe Action in detail

Subsidized budget

The subsidized budget of the submitted business plans can range from €500,000 to €12,000,000.

Investment plans with a subsidized budget of less than €500,000 are considered non-eligible from the outset and cannot be submitted.

Beneficiaries of the Actions

Micro, small and medium-sized enterprises that are newly established or under establishment and operating within Greek territory, are registered in the Beneficial Ownership Register of Article 20 of Law 4557/2018 (A 139), as in force, and are investing exclusively in one of the areas (territorial units) of the Territorial Just Transition Plans of Western Macedonia and Megalopolis.
Under establishment: companies that will file commencement of business operations with the competent Tax Office after the electronic submission of the funding application.

Newly established: On the date of issue of the call, companies that have not completed one business year, i.e. whose business activity commencement date is after 1/1/2022.

Eligible expenses

Indicative expenses eligible for the action are staff costs (costs for the employment of workers with disabilities in the form of salary subsidy), as well as all expenses related to the acquisition of:

Equipment, means of transport (production and mechanical equipment, electric means of transport, equipment for the installation of photovoltaic plants and storage systems for electricity production and coverage of own needs (self-production), other business equipment.)
Buildings, land, facilities & surrounding area (buildings, facilities and surrounding area)
Provision of services (certification and compliance of products with national, harmonized and optional standards of European countries and / or non-EU countries, certification of services & procedures according to national, harmonized as well as other European and international standards, participation in trade fairs, Packaging – Label Design – Branding services, intellectual property Patents – Transfer of know-how, advisory support for monitoring the implementation of the investment plan, technical studies necessarily linked to the costs of the investment plan),
Software (software and software licenses)

Subsidy rates

The percentage of state funding (grant) can reach up to 75% of the budget of the funding application.

Application procedure & submission dates

The application period began on 15/03/2024 and runs through to 15/05/2024 (at 15:00). The evaluation of applications for funding will be comparative.

The maximum length of time for completing the physical and financial object of the investment cannot not exceed thirty (30) months from the date of approval of the funding application (evaluation result).

Applications for funding are submitted through the Integrated State Aid Management Information System (OPSKE).

Aid regime

The aid is granted under Commission Regulation (EU) 651/2014 of 17 June 2014 declaring certain categories of aid compatible with the internal market, in application of Articles 107 and 108 of the Treaty, as amended, and in particular Articles 14, 18,19, 33 and 41 respectively of Sections 1, 2, 6 and 7 of the Regulation.

What we do for you

Contact your Business Banking Relationship Manager today and learn about our financing products and the tools we offer for the implementation of your business growth plans.

IN THE SUBMISSION PHASE OF THE GRANT APPLICATION
Bank confirmation of intention to finance the investment plan (loan pre-approval).
The relevant document to be submitted should indicate the basic terms of the intention to finance the plan, such as:

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

Pre-approvals of loans that state that the financing is granted within the framework of the program by assignment of the grant are not accepted.

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 of up to 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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