New financial tool

To support Audiovisual Production businesses

The upcoming operation of the first Loan Guarantee Fund for Audiovisual Production Companies announced by the Ministry of Digital Governance and the Hellenic Development Bank (HDB).

Through the Guarantee Fund, with a total budget of approximately 62.5 million euros, each beneficiary business will have the opportunity to apply for a bank loan of between 25,000 and 900,000 euros, to cover working capital needs and finance investment projects.

80% loan guarantee

The Fund will provide a guarantee of 80% on the amount of the loan. According to the terms of the Fund, banks are not allowed to request collateral for loans up to 50,000 euros, while all loans, regardless of their amount, are prohibited from pre-noting a permanent and sole residence.

Eligible CACs

Eligible enterprises for the Fund are considered to be those under establishment (that have a Tax Identification Number), newly established and existing very small, small and medium-sized enterprises, of any legal form, which operate in the following activity codes:

  • Motion picture, video and television programme production activities (KAD 59.11)
  • Activities incidental to the production of motion pictures, videos and television programmes (KAD 59.12)
  • Production of computer game software prototypes (KAD 62.01.21)

Fast and efficient

The Fund will immediately facilitate access to financing for businesses in the audiovisual sector, through a transparent, fast and efficient process. The aim is to improve their competitiveness and facilitate the repayment of loans by providing favorable repayment terms (grace period and loan repayment duration).

The Guarantee Fund is an important development tool for professionals in the audiovisual sector, a sector that is attracting increasing investment interest.

Comart

Comart is Authorized Reseller of the leading audiovisual products and solutions companies. It has long-standing experience and a specialized sales and support department for installations audiovisual event coverage, video streaming, IPTV, video production & post-production and broadcast.