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Agreement with ETEAN to enhance liquidity to SMEs

In one of the toughest periods for the Greek economy, when thousands of small and medium-sized enterprises are daily struggling to cope with recession and the lack of liquidity, Eurobank never ceases to grasp the opportunities offered for supporting and strengthening businesses in cooperation with the relevant agencies and the State.

In this context, Eurobank has signedan agreement with the National Hellenic Fund of Entrepreneurship and Development (ETEAN) for implementing the programme “Supply of Collateral for the Issuance of Letters of Guarantee in favour of Very Small, Small and Medium-sized Enterprises”.

The programme enables firms that do not have all the necessary collateral, to utilize the ETEAN guarantee in order to enhance their liquidity through the use of letters of guarantee, especially in a period when the flow of liquidity is critical for uninterrupted business operation. The programme aims at improving the businesses' productivity and competitiveness, by enabling them to use letters of guarantee in their transactions, and concerns both existing firms and start-ups.

The Bank, always offering strategic support to Small and Medium-sized Enterprises, is involved in the programme's implementation, by incorporating and combining it with the other products and services offered to its clients.

It should be reminded that Eurobank has been involved for quite a few years now in implementing NSRF actions and programmes. In this context, it has, among others, acted as the financing intermediary for SMEs with NSRF resources; has efficiently participated in all three stages of the Credit Guarantee Fund of Small and Very Small Enterprises (TEMPME); participates in the “Saving at Home” programme; is solely responsible for implementing the “Extroversion” activity in the whole of Greece and has been implementing the JESSICA initiative in Mainland Greece and the Peloponnese.

By participating in this ETEAN programme, Eurobank consistently continues to support programs and actions that, utilizing NSRF funds, seek to mobilize and utilize additional banking and private funds in order to enhance entrepreneurship and, in general, the development of economic activity in Greece.

For more information about the programme, interested parties may contact Eurobank's Branch Network throughout Greece and consult with the Bank's specialists in regard to all the steps required for joining this programme.