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The Hellenic Development Bank Guarantee Fund -TMEDE was established to provide guarantees for loans through the following eight cooperative banks (Alpha Bank, National Bank of Greece, Piraeus Bank, Eurobank, Attica Bank, Optima Bank, Cooperative Bank of Karditsa, Cooperative Bank of Thessaly) in order to grant access to financing for thousands of Small and Medium Enterprises (SMEs) and self-employed professionals in the field of engineering, surveyors, and contractors of public works (TMEDE).

What is the aim of the Fund?

The Fund aims to enhance the liquidity of SmE’s that wish to undertake or have undertaken the execution of projects and/or studies of public interest, regardless of the stage of execution of the project or study, through the provision of guarantees to the cooperative Credit Institutions providing Working Capital Loans, with a regular maturity, with a disbursement horizon until December 31, 2024.

Who is it for?

Small and Medium Enterprises (as defined in Annex I of Regulation (EU) No 651/2014), which:

    • Operate in sectors (NACE codes 41, 42, 43, 71.1, 71.2, 72.1).
    • Intend to undertake or have undertaken the execution of a project and/or study of public interest regardless of the stage of execution of the project or study.
    • Are considered creditworthy in accordance with the prevailing credit policy and internal procedures of credit institutions.
  • Are banking up-to-date (overdue liabilities < 90 days) as of the date of application.


What is the economic advantage for the enterprise?

Given the guarantee provided by the Guarantee Fund, the beneficiary company benefits from either a lower interest rate on the loan or smaller (or no) collateral requirements.


What is the budget?

Loan Portfolio of 70 million Euros

What is the maximum loan amount?

The maximum loan amount is €400,000.

Not allowed:

  • Refinancing/repayment of existing loans or credit lines.
  • Financing dividend payment programs or stock purchases.
  • Financing of mergers and acquisitions.


What is the maximum loan guarantee duration?

60 months (5 years), including any grace period.


What is the guarantee rate provided by the Hellenic Development Bank?

The Hellenic Development Bank provides an 80% guarantee for each loan.

What is the maximum collateral percentage from the enterprise (Beneficiary)?

The maximum insurance coverage percentage provided by the business (beneficiary) is 20% per loan.

Can the guarantee fee be subsidized?

The guarantee fee may be subsidized (subject to the limits of the De Minimis Regulation).

The collaborating Credit Institutions -banks that distribute the TMEDE Guarantee Fund are:

  1. Piraeus Bank
  2. Alpha Bank
  3. Eurobank
  4. Attica Bank
  5. Optima Bank
  6. Cooperative Bank of Karditsa
  7. Cooperative Bank of Thessaly
  8. National Bank of Greece

To submit an application, enterprises may apply through the State Aid Information System (PSKE) at the following website: stating the bank they wish to cooperate with for their financing.