Loans up to 30,000 euros for tourist business from new NSRF program

The new program "Island Entrepreneurship" addressed to enterprises will begin in the first week of June.

As NSRF general secretary George Giannousis said, the businesses expected to benefit with loans from 10,000 to 30,000 euros are estimated at 5,500.

The loans will bear interest of 2.8%, the repayment can be done in four years, while for islands with a population of less than 3,100 the loan will be interest-free.

The subsidy amounts to 70% of the loan while the remaining 30% will be covered by the investor and will be for existing, new, or in the process of being set up, tourist interest companies (apartments, travel agencies, marine tourism, alteration of local products, food businesses, etc.).

The capital will be given to companies based in the island for which they are applying for the loan, while investment spending does not require the company to be based on the island as long as the investment is for a specific island.

The program involves a variety of activities such as landscaping, new software, machinery, wages, rents, cost of goods, etc.

ETEAN president George Gerontoukos said the banks that cooperate with the program are the National Bank, Piraeus-ATE, Attica, New Proton, Pancreatan Cooperative, Evia Cooperative and Chania Cooperative.

He added that although there is a slight delay in announcing the program, there is a provision to include all expenditure from February 1st.

The call is open until a complete absorption of the program of 80 million euros and disbursement should be done by October 31st.