"Gift" the interest on their loans, makes the state to informed businessmen: The relevant decision was signed by the Deputy Minister of Development Giannis Tsakiris and thus "gave the green light" for a 3-month subsidy of interest on business loans. Of course, those interested in securing the amounts due to them should hurry to submit applications., as the process begins next Monday.
New business loan interest subsidy program - in the model of the model that was adopted from March to August- "Activated" the Ministry of Development. The subsidy concerns up-to-date business loans and will "cover" the interest corresponding to them for the January quarter.- February- March. The companies concerned are in Small and Medium Enterprises, with an annual turnover of up to 50 million. euros and employed staff up to 250 individuals.
What interest is covered
The total budget of the measure to support corporate debt obligations will amount to 200 million. euro, and concerns interest on loans as well as the corresponding contribution of n. 128/75 regular expiration, bond loans, syndicated loans and credit agreements (open mutual accounts), as well as securitized loans and credits (article 10 of n. 3156/2003), loans and credits transferred due to sale as well as loans managed by a special liquidator, with an administrator or financial institution participating in the Action, or a claims management company or a specialist liquidator who has commissioned in writing the implementation of the required actions to a financial institution participating in the action.
Which loans it concerns
The loans must have been up to date 30.09.2020 (that is, not to exceed 90 days of delay with reference point on 30.09.2020). Loans also become eligible, which were not informed on 30.9.2020 but became aware before submitting the funding application. The relevant loans / credit agreements must have been concluded before 01.01.2021 and interest on loans granted through the participation of the Entrepreneurship Fund II and the Covid Enterprise Guarantee Fund is not covered - 19 of the Hellenic Development Bank.
Who are the beneficiaries of the interest subsidy?
It is clarified that the action concerns the coverage of interest on existing informed loans for small and medium-sized enterprises operating legally in the country which
- are active in any field of activity other than companies engaged in the primary production of agricultural products, in the field of fisheries and aquaculture, on friday, tobacco processing and marketing, as well as in specific activity code numbers (ΚΑΔ) financial and insurance activities. For businesses starting before 01.01.2020 the control is based on the KAD with the highest revenues. For companies with start-up operations within it 2020 the control is based on the main KAD activity.
- show a decrease in their turnover per year 2020 at a rate 20% at least in relation to its turnover 2019. The above condition does not apply to companies established within it 2020.
The total amount of public funding that each company can receive (total Covid grants including the reinforcement of the 2nd Interest Grant Cycle) may not in nominal value exceed their ceiling 1.800.000 euro.
The application process
The deadline for submitting applications to the State Aid Management Information System starts on Monday 1 March and time 12:00 and ends on 7 May and time 15:00. In order for there to be a smooth flow of applications, the start of submission capability is given gradually based on the last digit of the TIN of the potential recipient, one digit per day. From the 11th day until the expiration date of the submission deadline, all recipients can apply, regardless of VAT.
Vangelis Dourakis writes
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