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.