Two important innovations to facilitate access to enterprises in financing starts Greek Development Bank. It’s about:
• Institution of low interest micro-credits for farmers and agricultural processing companies for small investments to strengthen agricultural production and
Loans from 3,000 to 25,000 euros will be provided through the Hellenic Development Bank.
• KYC by HDB platform, which allows interested parties to express their interest through simple procedures with a single application and, if they meet the requirements (inform about taxes and insurance and have no outstanding issues in Theresia), apply for funding to it simultaneously available in as many banks as they choose.
As announced by the Hellenic Development Bank, interested farmers as well as manufacturing companies can visit the HDB website (www.hdb.gr) to express their interest in the Small Agricultural Enterprise Credit Fund. In addition, by submitting their details to the new KYC platform, they are quickly informed of their eligibility for the financing offered by the fund for small loans between EUR 3,000 and EUR 25,000, which will be co-financed by the Rural Development Authority. Program without collateral from the farmer-borrower. The KYC platform is available and fully functional to receive the first applications after the necessary tests and successive stress tests, especially – in the last stage – in cooperation with a large cooperative bank with a wide clientele in the agricultural sector.
Expanding business access to finance is a government priority and the EBA has taken full lead in the strategic planning and implementation of this innovative, revolutionary funding platform. As HDB CEO Athena Hatsipetra stated, “The KYC by HDB platform introduces the institution of micro-loans to the Greek market, facilitates and accelerates the horizontal cooperation of the authorities involved, and ultimately expands the number of financed enterprises. It links business inquiries to HDB financial instruments and forwards them to all partner banks.”
Source: Kathimerini
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