Short-term Financing of Working Capital
Get today advantage of the facilities for short-term financing of working capital that we offer, and secure the smooth day-to-day operation for your enterprise and life insurance
The facility for short-term financing of working capital is offered to allow you to meet the needs of your enterprise's production and transaction cycle, respond to orders placed from within Greece or from abroad, arrange for imports, pay obligations abroad, execute work contracts etc, provided that this financing is linked to import or export transaction.
The duration of this form of financing depends on the production and transaction cycle of your enterprise, and on the conditions prevailing in the market and in the economic activity sector in which your enterprise operates. It usually is 5 - 6 months, with possibility for the refinancing. The life insurance ensures repayment of the company’s working capital in case of loss of life or permanent total disability due to the insured person’s sickness or accident.
Depending on the source of financing that you will choose, the interest rate may be determined in one of the following ways:
- Floating interest rate in Euro from those offered by the Bank, determined based on: the Bank's Base Financing Rate (BFR, currently at 8.90%) + Margin varying from 0,95% to 4,00% + Contribution under Law 128/75 (currently at 0,60%).
- Floating interest rate from the Interbank Foreign Exchange Market, determined based on: the interest rate offered for interbank loans in Euro (Euribor) + Margin varying from 2,75% to 7,75% + Contribution under Law 128/75 (currently at 0,60%).
Documentation needed for Short-term working capital financing
On Imports
- Contract
- Invoice (invoice, facture, fattura, rechnum)
- Any other documents
On Exports
- Invoice (invoice, facture, fattura, rechnum)
- Any other documents
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