First Greece 2.0 loan for a small business

Alpha Bank on Tuesday announced the disbursement of its first loan from the “Greece 2.0” funding project to a small enterprise, financing Spyridakos Group, a hotel accommodation company on the Aegean island of Serifos, with over 900,000 euros for the acquisition of buildings and equipment along with an energy upgrade to its hotel complex through the installation of a photovoltaic system for electricity production.

The total investment comes to €1.127 million with 50% (€563,700) covered by the Recovery and Resilience Facility and 30% (€338,200) by Alpha.

The company will only contribute 20% at this stage.

This paves the way for other small companies in Greece to benefit from the favorable financing terms the RRF offers in cooperation with banks.