The Hellenic Fund for Entrepreneurship and Development (ETEAN SA) is the only 100% state backed financial intermediary in Greece, at the supervision of the Bank of Greece, which is functioning in reciprocity with the Greek banking sector. It seeks to harmonize EU regulation and local banking practices for the benefit of the national MSMEs, through the provision of low –cost financing solutions for business entities with limited access to customary bank financing.
Despite adverse economic and environmental circumstances prevailing in Greece since 2010, ETEAN fulfils its institutional role as the unique fully fledged Greek – origin provider and manager of guarantees and repayable credit enhancement facilities for Greek SMEs.
ETEAN SA, as the only government agency with widely acknowledged solid working relations with the banking sector, monitors the real needs of the Greek MSME market in order to accommodate them efficiently and in a timely fashion. In that context, the Fund has currently a comprehensive product platform.
|Year of creation|
individual entities or association
|Type of scheme|
guarantee or counter-guarantee
|Guarantee, Non - Banking Financial Institution|
guarantee or counter-guarantee or co-guarantee
|Guarantee, Counter-garantee, Co-garantee, Financial Eng. Instruments (i.e. loan funds)|
i.e. fully mutual, funded by SMEs, banking associations, fully public, fully private, private-public, mixed models
Private / Public (in %)
of single guarantee entity or association: i.e. fund, development bank, development agency, cooperative or mutual societies, bank, foundation, association, limited company, etc.
|Structure / Network|
i.e. central scheme with regional offices, central scheme only, association network
|Central scheme only|
i.e. local, regional, national
i.e. agriculture, industry, crafts, retail, liberal professions, cooperatives, etc.
|Agriculture, Industry, Crafts, Retail, Liberal professions, Cooperatives|
|Size of businesses supported|
i.e. large companies, SMEs, micro-enterprises, independent/self-employed
|SMEs, Micro-enterprises, Independent/Self-employed|
i.e. mono-product banking licenses, financial intermediary statute, non-supervised. For associations, please state statute of members
|Supervised by the Central Bank of Greece|
|Profit / Non-profit oriented|
dividends to public shareholders are not considered as profit orientation
|Do you benefit from a counter-guarantee at local, regional or national level?|
Local level or Regional level or National level
|Are you/your members financial intermediary for EU-programmes?|
CIP/COSME or Structural funds or Progress or RSI/RSFF Horizon 2020
|Types of guarantee products provided by your organisation/your members||Loan default guarantees, Working capital loan guarantees|
|Other SME support instruments offered by your organisation/your members|
Subsidized loans or Mezzanine financing or Venture capital or Coaching or Mediation services
|Is the activity subject to state aid regulation?||Yes|
|Do you (your members) use..?|
De minimis or GBER or Regional guidelines or Notification
|De minimis, GBER, Regional guidelines and Notification|
|Do you (your members) dispose of an internal rating/scoring system?||Yes|
|Do your guarantees provide deponderation (capital relief) for member banks subject to capital requirements (Basel agreement)?||Yes|
|Do you (your members) benefit of a public counter-guarantee that allows deponderation (capital relief)?||Yes|