Cooperative Bank of Karditsa signed two (2) Guarantee Agreements with the European Investment Fund (EIF) under the "InvestEU" fund. In virtue of these agreements, EIF has agreed to undertake direct guarantees to the Bank covering part of the credit risk, expanding thus the Bank's ability to improve the financing terms for its customers and facilitating their access to financial instruments with favorable terms and conditions.
More specifically, based on these new Agreements, Cooperative Bank of Karditsa integrated and activated in its portfolio crucial key-programs, namely the "Microfinance and Social Entrepreneurship" program and the "SME Competitiveness" program.
The “Social Entrepreneurship” program refers to social enterprises whose main objective is to generate environmental, social or governance impact through their activities.
Loan amount: up to € 2.000.000
Guarantee rate: 80%
Maximum duration of financing: up to 10 years.
The purpose of this new financial instrument is to meet entrepreneurial needs, mainly in terms of working capital and investments. Through the guarantee provided by EIF, eligible enterprises can access liquidity with no hard collateral requirements and with reduced interest rate margin and costs.
Cooperative Bank of Karditsa actively proves its strong presence alongside businesses and self-employed persons, facilitating their access to finance, providing financing on favorable terms and conditions, with the immediacy and flexibility which always rule its operation.
* The InvestEU Fund is designed to support policy objectives of the European Union by means of operations that contribute to (i) the competitiveness of the European Union; (ii) growth and employment in the European Union economy, the sustainability of the European Union economy and its environmental and climate dimension; (iii) social resilience; (iv) the promotion of scientific and technological advances, of culture, education and training; (v) the integration of the European Union capital markets and the strengthening of the internal market; (vi) the promotion of economic, social and territorial cohesion; or (vii) the sustainable and inclusive recovery of the European Union economy after the crisis caused by the Covid-19 pandemic.
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