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Economy

AADE Platform for Repayable Advance to Businesses Opens on Monday

ATHENS – An Independent Authority of Public Revenues (AADE) platform was launched on Monday where companies can be informed of the amount of aid in the form of a repayable advance that has been approved for them.

From Monday until May 15, the interested parties can log on the aade.gr/MyBusinessSupport site where they had submitted their applications and learn the amount of the loan that has been pre-approved but also declare if they accept the terms, so that procedure can begin in the next few days.

Specifically, they should fill out the Grant Application and choose the final amount of the loan they would like (if they wish to borrow a smaller amount than the approved sum) while accepting the terms of repayment, as described on the AADE website.

The minimum amounts set for the repayable deposit are:

– From 2,000 euros up to 30,000 euros for companies with more than 50 employees.

– The maximum amount of aid per business may not exceed 350,000 euros for businesses employing up to 250 people and 500,000 euros for businesses employing more than 250 people.

The repayment starts from 2022 – ie there is a grace period until December 31, 2021 – and will be made in 40 equal interest-bearing monthly installments. The amount of aid appears in TAXISNet.

The interest rate set is the basic interest rate set by the European Commission for Greece, increased by 109 basis points. Based on current data, it is below 1 pct.

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