...Home
 ABOUT US | OUR SERVICES |RESOURCES | NEWS | CONTACT US
  Why foreign banks do not grant loans to Greek SMEs
 
According to an article published in Greek newspaper “Kathimerini” (Nov. 25, 2006), foreign banks are extremely reluctant in granting loans to Greek SMEs or sole practitioners as they do not want to work with parties that usually tax evade. These banks follow strict procedures and the approval or not of a credit line cannot rest on what the neighborhood believes but rather only on the accounting books of the company, which usually show sales lower than the actual ones and zero profits.

The fact that the official financial figures of a business are the passport of a business owner in the selling process of his business, since the price can only dependent upon official figures was also stressed on the Newsletter of Synapsis published in October, 2006 (currently available in Greek only). It is worth re-emphasizing and expanding what we stated in our Newsletter: in the selling process and the loans granted to small and medium sized businesses “if it is not in the books, then it does not exist.”
HOME | CONTACT US | TERMS - PRIVACY POLICY - COPYRIGHT