The Action will support the companies of the Region of Crete that face liquidity shortages and suffer significant losses due to the effects of the measures to reduce the outbreak of COVID-19 disease.

Beneficiaries are:
Existing Small and Very Small Enterprises, which legally operate in the Region of Crete and meet the following criteria:

have started before 1/1/2019,
have an eligible main activity or activity with the highest income as stated in E3 of the tax year 2019 (see here the eligible KAD) and in which to operate continuously at least from 31/1/2020 and until the day of submission of the proposal,
in 2019 employed less than 50 employees,
The sum of the expenses resulting from the following categories is equal to or greater than € 6,000:
of Consumer Goods Markets
of Purchases of Raw Materials and Consumables
of the total Expenditures for Provision of Services
of the total Rents paid in use by the company
of all Benefits to employees (except those employed in Agricultural-Biological activities)
of the total of the Various Operating Expenses

Grant amount:
The public funding covers Working Capital equal to 50% of the company's expenses in 2019 with a minimum grant amount of € 3,000.00 and a maximum of € 40,000.00.
The total budget of public expenditure of the action amounts to 50,000,000 EUROS.
The amounts on which the exact grant amount will be calculated are derived from the sum of:

of Consumer Goods Markets
of Purchases of Raw Materials and Consumables
of the total Expenditures for Provision of Services
of the total Rents paid in use by the company
of all Benefits to employees (except those employed in Agricultural-Biological activities)
of the total of the Various Operating Expenses

Duration of projects:
The paid working capital must have been spent within 2021. The total Request for Final Verification - Certification is submitted at the choice of the beneficiaries in the period from 01/01/2021 to 31/03/2021. The verification, inter alia, concerns the confirmation that the company on the last day of the month preceding the application for payment of working capital employed the same number of employees as it did on the same date of the previous year.

The application period will last from 13-10-2020 to 27-11-2020. The supported applications for funding are based on the order of scoring and until the available resources are exhausted.