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Innovation & Guarantee Fund

The first financial product to support innovative businesses with a guarantee of 80% on the loan amount.

Loan amount

from  €25.000 up to €400.000

Loan term

from 1 up to 10 years with a grace period up to 3 years 

Bonus subsidy 20% on the initial capital

under the term that business applies criteria of innovation and ESG 

Innovation & Guarantee Fund

Innovation & Guarantee Fund is the first financial tool that aims to enhance the competitiveness of innovative start-ups or existing businesses, offering for the first time investment loans with a guarantee of 80% of the capital.


The provided guarantee concerns new loans that will be granted until 31.12.2025.



Terms and Conditions


The program aims to companies that will undertake to complete an innovative investment plan, with specific innovation criteria, combined with environmental, social and corporate governance (ESG) criteria.

Eligible businesses

- Micro, Small and Medium Enterprises (SMEs)

- Businesses with an innovative nature that cover at least one of the criteria, as defined at the conditions for participation

- Businesses that are bank aware at the time of submitting their application

- Businesses that keep ledger books at the time of submitting the financing application to Pancreta bank


From €25.000 up to €400.000.

HDB guarantees 80% of the withdrawn capital.

Funding is not possible for:

  • Refinancing existing borrowing
  • Financing a dividend or stock purchase plan
  • Financing of Aquisitions and Mergers


Preferential interest rate

The financial benefit in each business can be between up to 1.00% lower than the current interest rate, according to the customer's credit rating.

The interest rate is subject to Law 128/75 levy.

The interest rate on the loan is lower than the market rate.


Reduced collateral

Due to the provision of a guarantee of 80% of the loan amount by the ETA, the collateral is reduced compared to common commercial loans.

For loan amounts from €25,000 to €50,000 only debt securities are accepted.

For loan amounts above €50,000, it is possible to obtain additional coverage (debt and/or real collateral) as collateral for the claim, but they will not exceed 20% of the loan.

In any case prenotation of the residence is not allowed.

Bonus subsidy

After the implementation of the investment plan and within 36 months, the business can apply in order to receive a grant of up to 20% of the initial capital, under certain criteria.

These criteria concern:

1. 15%  expenditure on research and innovation of the start up or existing company

2. 5% under the compliance with at least three criteria in two of the three categories of ESG (Environmental / Social /Governance) practices.


Eligible expenses

  • Investment costs according to the investment plan that the applicant company will present.
  • Working Capital Expenditures
  • Any other expenditure based on a business plan and is related to the service of the turnover of the business, with the purpose of the achievement of the objectives set for receiving the financing and maintaining innovation criteria
  • Also eligible are expenses related to the commercial and turnover of the business and the expansion/development of the business, as reflected in the business plan submitted

For example, supplier costs, staff fees, employer contributions, third party fees, rent, consumables, etc.

The loan can cover an investment purpose and working capital.



More info on the program

International digital platform "InnoAgora"

HDB provides free of charge to all SMEs that will receive the loan their entry to the international digital platform "InnoAgora", in which businesses, investors and other bodies are involved with the aim of developing partnerships with an extroverted nature.

V.A.T. Funding

VAT is an eligible expense, regardless of the status of the business (recoverable or not).