The alliance of small businesses and self-employed workers (SYMEA) is looking to hire staff for an SME bank and be operational by the end of the year in order to help its members gain access to low-interest loans at 2% or lower.
Alliance members have said that in 2011 alone, small to medium sized enterprises of up to 49 employees accounted for nearly 200,000 of the island's workforce, but during the past four years, up 25 companies are shutting down daily, primarily due to the lack of funds.
SYMEA chairman Stavros Alambritis told Astra Radio that the funds will come primarily from the
On Friday, state broadcaster CyBC said that SYMEA officials met with
Alambritis said that the bank aims to raise
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