Loan suspension scheme not hugely popular with businesses or individuals

Around eight out of ten companies or individuals eligible for the loan installment suspension scheme – temporary relief during the coronavirus situation – did not bother to apply, latest data show.

Citing data up to June 30, daily Phileleftheros reported that out of 34,529 eligible businesses, only 22.15 per cent applied for the scheme, whose validity expires on December 31. Of the 7,648 applications filed, 98.7 per cent were approved.

The total contractual loan value of eligible businesses amounted to around €16 billion. The applications that were filed concerned 52 per cent of that number, or €8.3 billion. The actual loan contractual value that was approved for the scheme came to €7.97 billion.

As for private individuals or households, a total of 338,347 persons were theoretically eligible. Only 15.5 per cent applied. Of the applications filed, 93.5 per cent were approved. The total contractual loan value of eligible individuals was €9.97 billion; however, the applications actually filed concerned 49.3 per cent of that number. Of the applications filed, 96.2 per cent were approved.

For individuals, the actual loan contractual value that was approved amounted to €4.73 billion. Of this, €4.05 billion related to performing loans, €598 million non-performing loans, and €64 million overdrafts.

The deadlines for applying for the loan installment suspension plan were June 26 for businesses, and June 30 for individuals.

 

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