“The Pan-Cretan Bank moves on to new products in order to reinforce the small and middle enterprises that activate in Crete”, stressed in an interview to “In-On” magazine, the Deputy Chairman of the Board of the Pan-Cretan Cooperative Bank and Chairman of the Union of Agricultural Cooperative Banks of Greece (ESTE) Nick Mirtakis.
Question: What new loans will the Pan-Cretan Bank give to the small and medium enterprises?
Answer: The Pan-Cretan Bank has secured loans from the European Bank and the European Investment Fund of about 65 million Euros, which are addressed to all the categories of enterprises that activate in Crete with the aim to strengthen investment and entrepreneurial in general. More specifically, 50 million Euros is intended to finance Small and Middle enterprises of Crete with preferential terms as well as to provide permanent working capital. Approximately 15 million Euros is also intended to finance the very small existing companies along with new sustainable businesses, to invest in fixed assets and permanent working capital, as well as provide guarantees on loans which do not have the necessary tangible collaterals.
The aim is these loans to cover the 50% of the required capitals in order to make an investment.
The funded investments should comply with the environmental legislation and the general regulations of the European Union whereas there are some sectors that are excluded (weapon production, gambling, tobacco, real estate for sale).
The duration of the loan is adjusted in relation to its purpose and can be ranged from 2 to 12years.
Question: What are the conditions for those people who are interested?
Answer: The granting of these loans will be based on banking criteria. The bank will consider all the details regarding the company and the investment that will be subjected according to the usual banking policy. The companies, thus, should be viable with an investment plan that has a great chance to succeed and secured operating revenue flows so as to reassure the repayment of the loan.
Question: Must there be shareholders of the Bank?
Answer: The Pan-Cretan Bank wishes to cooperate with its members either companies or individuals who are in full consultation and cooperation with the Bank. Depending on the amount of the loan, buying a specific number (minimum number) of cooperative shares is suggested.
At this point it is worth mentioning that “market shares offer significant returns to our partners not only in dividends but also in capital gain”.
Question: Tell us about the new role of the bank regarding the new energy cooperation and also the steps that should be taken
Answer: The Pan-Cretan Bank and the periphery of Crete, have recently taken the initiative to establish a company with a wide-share (“popular”) basis, which will participate in the realization of the biggest developmental project in Crete related to the interconnection of the electrical network of the island with the mainland network regarding wind farms and photovoltaic parks.
The shareholders of the new company will the Pan-Cretan Bank, local authorities, local bodies, cooperatives, companies and individuals from Crete.
The main purpose of the new company is to serve the sustainable development of Crete, namely local economy, society and the protection of the environment. Within this framework, we believe that the project will be supported by the majority of the Cretans ensuring the necessary funds, as well as the participation and social consensus on the implementation of major investments on energy that are planned in Crete.
Already, after a variety of investigatory contacts with the local authorities and other services in the island, consensus and commitment in the participation for the smooth realization of the project are in progress providing finding the proper sites. It has to be noted that a project of this size requires a great deal of preparation, documented studies and careful planning.
Curriculum Vitae
Nikolaos Myrtakis was born in 1952 in Herakleion in Crete he is a graduate of the Panteion Higher School of Political Sciences. He has been Director of the Union of Agricultural Cooperatives of Herakleion, member of the Board of Directors of the Regional University General Hospital of Herakleion, Chairman and Secretary General of the Labor Center of Herakleion-Crete, Chairman of ELKEPA; annex Eastern Crete, Chairman of the Board of Directors of the Center of Entrepreneurial and Technological Development of Crete (CTD).
Today, he is the chairman of the Association of Cooperative Banks of Greece, Vice-president of the Board of Directors of the Pan-Cretan Cooperative Bank, Board member of the Hellenic Bank S.A. and Executive Director and Board member of the Cooperative Insurance AEEGA.