Investment & Fund Management
which made it nearly impossible for him to obtain the necessary
Full Credential Description
Dimitris Kyriakopoulos, the owner of Ta Helonakia, faced significant challenges in securing financing to launch his indoor swimming pool facility for children under eight. Traditional banks were unapproachable, as they required personal collateral, which made it nearly impossible for him to obtain the necessary funds. The breakthrough came when he accessed an EU-guaranteed loan from Eurobank, which did not require collateral due to the EU's backing. This financial support was crucial for purchasing essential equipment and machinery to start the business.
In addition to the loan, Dimitris received entrepreneurial support from the Action Finance Initiative (AFI), a Greek NGO that provided free training and guidance in developing a business plan. This combination of financial backing and expert advice enabled him to successfully navigate the startup process.
As a result of securing the loan guaranteed by the European Investment Fund (EIF) through the Employment and Social Innovation programme (EaSI), Ta Helonakia was able to hire 24 employees, with plans to add 13 more in 2018 as the business expands into new locations in Athens, Cyprus, and potentially Turkey. Furthermore, the facility plans to open a retail shop in January 2018, offering toys, books, and accessories for children and parents, thereby enhancing the overall service experience.