A new programme to enhance the liquidity of SMB's in Thessaloniki was announced by the Chairman of the Thessaloniki Chamber of Commerce and Industry (TCCI), Mr. Dimitris Bakatselos, and the Deputy Chief Executive Officer of Piraeus Bank, Mr. Christodoulos Antoniadis. This is the "Piraeus Bank - TCCI" programme, jointly prepared and to be promoted by both partners, in order to improve the liquidity of SMB's in Thessaloniki.
This programme regards the companies that are members of the TCCI and provides loans up to € 250m, in parallel with other loans granted by Piraeus Bank to SMB's, i.e. loans by the TEMPME and the European Investment Bank programmes. Interested companies should apply from Monday 16 February to Tuesday 31 March 2009.
"It is a TCCI initiative, to which Piraeus Bank promptly responded, to resolve liquidity problems of TCCI member-companies" underlined, among others, the Chairman of the TCCI Mr. Dimitris Bakatselos, during a joint press release. He added that the TCCI tries to support its member-companies that are already facing the impact of the global financial crisis. "This collaboration proves that Piraeus Bank sympathises with the business world of Thessaloniki in such an adverse financial environment" said the Deputy Chief Executive Officer of Piraeus Bank, Mr. Christodoulos Antoniadis, pointing out that recently the Chairman of Piraeus Bank, Mr. Michalis Sallas, announced a similar agreement with the Chamber of Athens for loans of a total of € 1 bn for companies in Attica.
Terms and conditions for new loans
These new loans are for SMB's members of the TCCI with a turnover between € 50,000 and € 5m that are in business for at least 3 years. They must also have been profitable for at least 2 out of the 3 recent fiscal years and should not be listed by Tiresias Bank Information Systems s.a. or have expired debts to Piraeus Bank.
The loans will have:
- A working capital of a more permanent character
- Loan duration up to 5 years
- Grace period: Up to 12 months (for the capital).
- Loan amount: From € 10,000 to € 500,000 and up to 20% of the company's turnover.
- Payment by monthly instalments, with a potential for balloon payment up to 30% at the loan expiry.
- For loans up to € 40,000 only by personal guarantees provided by company agents and at the same time life and total permanent disability insurance.
- Preferential Rate of Loans (full recourse) 7.2%
- Prime Rate of Loans (non-recourse) 8.15% (plus 0.6% L. 128/75), in any case without a margin
- Annual cost of application assessment
- € 100 for loans up to € 100,000, and
- € 200 for loans over € 100,000
Additional Benefits
- Business or personal card without subscription for a year.
- Automatic payment of bills (Telephone, PPC, Water Company) without commission.
- Preferential pricing in payroll.
- Free winbank.
Payments via internet
During the press conference, the conclusion of a contract was also announced for the provision of services of electronic payments through Piraeus Paycenter IT platform, so that TCCI can receive via internet payments by its members for its services (Subscriptions, Certificates, Company Lists etc) charging any Visa & Mastercard credit/debit card quickly, reliably and safely.
Further to the long experience of Piraeus Bank in electronic payments of companies and organisations, an important reason for the TCCI to make the said choice was the increased online security provided by the Paycenter platform, including a card anti-fraud system, as well as the card holder verification services (Verified-by-Visa and Mastercard Secure Code of the Visa and MasterCard companies respectively).