On 30.10.2025 applications began to be submitted for financing from the new Thessaly Natural Disasters Recovery Microloans Fund in the context of TEPIX III Fund. The Fund is a specialised financing tool which seeks to directly support small and micro enterprises in the Thessaly Region which were affected by Storm Daniel. With a budget of €12,000,000 the Action is financed by the Competitiveness Programme with co-financing from the European Social Fund (ESF+) and offers exceptionally favourable financing terms to allow businesses to recover.
The Microloans Fund offers microloans ranging from €3,000 to €25,000 under exceptionally favourable terms:
- Interest-free financing for 75% of the loan
- Repayment period from 1 to 8 years
- Grace period of up to 6 months
- No real collateral
- Additional grant of €900 per Tax ID No. for mentoring
A major advantage of the Action is the fact that financing is provided whether or not there is material damage or whether a request for assistance was submitted.
Enterprises can use the loan to primarily cover working capital but also partially cover investment costs provided that component does not exceed 40% of the loan. Expenditure incurred up to 6 months before the application for financing is submitted also constitutes eligible expenditure.
Interested parties can submit their Application for Financing either by physically dropping into any associated financial institutions (credit institutions and microfinance institutions) or online:
Credit institutions
- Alpha Bank
- Eurobank
- National Bank
- Cooperative Bank of Thessaly
- Cooperative Bank of Karditsa
- Piraeus Bank
Microfinance Institutions
- AFI Microfinance
- Microsmart
- TMEDE Microfinance Solutions
