TMEDE Microfinance Solutions is the first institutional body active in the microfinance sector. Furthermore, it is the first licensed – following evaluation – body by the Bank of Greece, under the provisions of Law 4701/2020, with the exclusive purpose to provide microfinance up to € 25.000 for capital enhancement. Accordingly, it is subject to the relevant supervisory regulations of the Bank of Greece.

The new body – which will become fully operational in the near future – responds to the pressing need for liquidity and financing products, with specialised and targeted tools, as well as to the demand for the existence of an institutional framework and new bodies to facilitate access to finance for medium, small and micro-enterprises.

Both the parent institution, TMEDE, and Attica Bank play an essential role in the operation, ensuring thus the smooth and quality provision of its services – which will be entirely digital – and are jointly committed to supporting its development and expansion. During the first phase of its operation, it will provide loans only to members of TMEDE, in line with the provisions of the new body’s Business Plan.

Indicatively, funding will be provided for the following:

• New businesses financing
• New activities financing
• Cost Coverage for commercial properties (purchase/lease, maintenance or energy upgrading)
• Mechanical equipment purchase/leasing
• IT infrastructure and system modernisation
• Vehicle purchase/leasing (with preference to electric/hybrid cars)
• Educational programmes financing (postgraduate degrees, professional certifications, etc.)
• Insurance and tax contributions coverage
• Subsidised programmes co-financing

The President of TMEDE, Mr Konstantinos Makedos, stated: “TMEDE Microfinance Solutions is a new solution – a tool that effectively responds to the need for seamless access to liquidity solutions, especially for those who are just starting their professional career. TMEDE, an autonomous and specialised pillar in providing guarantees and loans to its members, in response to the new environment created, has seized the opportunity to develop new products and services in line with the European Microfinance Framework, which prioritises social and public benefits. In cooperation with Attica Bank, we are dynamically exploiting the new financial tools and supporting the recovery of the Greek economy while paving new ways for business development.“