Through the Energy Saving Bridge Financing, we extend you a credit line to finance the works you carry out as a supplier / contractor on properties included in the Energy Saving 2021 (Exoikonomo – Aftonomo) launched by the Greek Ministry of Environment and Energy. You prefinance your backlog until you are paid through the programme. You receive 100% of the subsidy remainder your customers are eligible for through the Energy Saving 2021 Programme, regardless of whether they take out a loan or not.
A credit line for recurring needs
The Energy Saving Bridge Financing gives you access to cash when you need it, for projects that are included in the Energy Saving 2021 Programme.
This way, you prefinance the works you carry out under the Energy Saving 2021 Programme to improve the energy efficiency of your customers’ properties.
Find out how we make things easier for you.
Credit limit
Your credit limit for the Energy Saving Bridge Financing depends on your turnover.
A credit line with indefinite term
We extend the credit line for works under the Energy Saving 2021 Programme indefinitely and review it annually.
100% granting of each project’s subsidy
We grant you all the amount remaining from the subsidy amount your customers have received through the Energy Saving 2021 Programme, as a downpayment for the works you are carrying out on their property. The minimum financing amount is €10,000.
Variable interest rate
The Energy Saving Bridge Financing has a variable interest rate linked to 3m Euribor. A fixed spread is added to this.
Spread
The spread depends on your credit rating.
Law 128/1975 levy
The total interest rate is also subject to the Law 128/1975 levy.
Discount on financing fees
When you enter the Energy Saving Bridge Financing, you get a discount on the assessment fees for your application and the annual review fees for your credit line.
For each project you wish to finance
To be able to finance a project through Bridge Financing, it must be included in the Energy Saving 2021 Programme.
For the account you register with the programme
You need to register a professional sight account you hold at Eurobank on the online platform of the Energy Saving 2021 Programme (https://exoikonomo2020.gov.gr). The amounts disbursed from the programme will be credited there.
Your customers need to select said account, which is:
- Credited with the amounts relating to the completion of works on your customers’ properties.
- Blocked for the repayment of the Energy Saving Bridge Financing. Any amounts credited to this account repay the capital you have used.
Find out how you repay the financing.
For your customers’ loan
Your customers who are included in the Energy Saving 2021 Programme may fund their property works through the subsidy and own funds only.
If your customers need a loan to cover the eligible budget for their property, such loan must have been approved by Eurobank for you to be able to finance your works through the Energy Saving Bridge Financing.
Interest payments twice a year
Every 6 months you pay interest on the capital you have drawn from your credit line.
Revolving credit
You may borrow again amounts you have already repaid, as the Energy Saving Bridge Financing is a revolving credit line. Yet you cannot exceed your credit limit.
This way, you can meet additional business needs at any time.
Repay within 12 months
The maximum repayment term is 12 months.
Through amounts credited to your blocked account
Once the works on your customer’s property are concluded, the Energy Saving 2021 Programme payments relating to these works are directly credited to your blocked account with Eurobank.
Such amounts directly repay both principal and interest.
If the amount credited to your account is higher than the amount required to repay your financing, you receive the extra amount.
Through own funds
Alternatively, you may repay your financing using own funds.
People often ask about the Energy Saving Bridge Financing
Does my customer need to take out a loan for me to prefinance the works on their property?
Not necessarily. You may prefinance any project at a customer’s property which has been included in the Energy Saving 2021 Programme, even if your customer has not taken out a loan.
If your customer needs a loan, this must be extended by Eurobank for you to be eligible for the Energy Saving Bridge Financing.
Learn more about the eligibility requirements for financing.
Do I have to register a Eurobank account for each project I undertake as part of the Energy Saving 2021?
Yes. For each project you undertake as a supplier / contractor on customer properties that are included in the Energy Saving 2021 Programme, you need to register a professional sight account you hold at Eurobank on the dedicated online platform.
Your customers need to select said account from the online platform for the payments made under each project under the Energy Saving 2021 Programme.
To get Energy Saving Bridge Financing, this account is blocked. The amounts credited to this account by the Energy Saving 2021 Programme repay your financing.
Find out how you repay the financing.
