HBOR Measure of Reducing HBOR's Interest Rates for Final Borrowers Meeting the Terms and Conditions of the EIB's Jobs for Youth Initiative



By joining the EIB's Jobs for Youth Initiative, HBOR provides an additional benefit to final borrowers employing and/or intending to employ young persons in terms of reducing the interest rate by 20 basis points, of which at least 15 basis points are covered by EIB.

A young person is the one that is at least 15, but not more than 30 years of age at the moment of employment/training.

FINAL BORROWERS
Final borrowers acceptable for such reduction of interest rate are small and medium-sized entrepreneurs with up to 250 employees (full-time employment) and mid-caps with 250 to 2999 employees (full-time employment) meeting at least one of the following 3 (three) criteria:
  • During 6 (six) months before submission of the loan application to HBOR or to commercial bank, they employed and still employ or in the following 6 (six) months, starting from the date of signing of the loan contract approved under the framework of this Initiative, they plan to employ:
    • at least 1 (one) young person (small and medium-sized entrepreneurs)
    • at least 5 (five) young persons (mid-caps).

The following is included: - permanent employment - temporary employment - temporary employment at permanent seasonal jobs - probation employment - internship employment - professional training without employment, whereas it does not include hiring of employees through temporary employment agencies, pupil employment agencies or student employment agencies.

and/or
  • During 6 (six) months before submission of the loan application to HBOR or to commercial bank, they provided and still provide a vocational training or internship position, or in the following 6 (six) months, starting from the date of signing of the loan contract approved under the framework of this Initiative, they plan to provide a vocational training or internship position to:
    • at least 1 (one) young person (small and medium-sized entrepreneurs)
    • at least 5 (five) young persons (mid-caps).
and/or
  • During 6 (six) months before submission of the loan application to HBOR or to commercial bank, they participated, or in the following 6 (six) months, starting from the date of signing of the contract on loan approved under the framework of this Initiative, they plan to participate in a youth entrepreneurship programme of a Non-Governmental Organisation or educational institution.
In confirmation of the aforementioned, together with the loan application, the applicant submits the completed „Statement Evidencing the Fulfilment of the Criteria for the Employment of Young People-SMEs“ (small and medium-sized entrepreneurs) or „Statement Evidencing the Fulfilment of the Criteria for the Employment of Young People-Mid-cap“ (mid-caps).

INTEREST RATE
  • interest rate under the loan programme, reduced by 20 basis points

APPLICATION OF MEASURE
Applied via HBOR loan programmes:
  • to new loan applications
  • to loans with maturity of at least 2 years
  • to the entire loan repayment period
It is not allowed to combine the measure with a subsidy from the funds of the National Recovery and Resilience Plan.

FORM OF STATEMENT EVIDENCING THE FULFILMENT OF CRITERIA
In confirmation of the aforementioned, together with the loan application, the applicant submits the completed:
  • Statement Evidencing the Fulfilment of the Criteria for the Employment of Young People-SMEs (small and medium-sized entrepreneurs) or
  • Statement Evidencing the Fulfilment of the Criteria for the Employment of Young People-Mid-cap (mid-caps).

To print out, download the complete text of the EIB's Jobs for Youth Initiative, and more information on cooperation between HBOR and EIB is available at: https://www.hbor.hr/en/cooperation-between-the-european-investment-bank-with-hbor