ECONOMY

Guarantee fund for loans to movie companies

guarantee-fund-for-loans-to-movie-companies

The Hellenic Development Bank has published its invitation to Greek banks for expressions of interest in participating in the first Guarantee Fund for Loans to Audiovisual Productions, with a November 5 deadline.

This is the final step ahead of the activation of the new program by the Digital Governance Ministry, with a total potential loans budget of some 62.5 million euros.

According to the new fund’s regulations, each recipient company will be able to apply for credit of between €25,000 and €900,000 to cover working capital needs and investment plan funding.

The fund will guarantee up to 80% of each loan, while banks will not be allowed to ask for collateral toward loans up to €50,000.