Buyer Credit

Loan Programme for Financing Foreign Buyers / Buyers’ Banks (full text of the Programme)

All terms and conditions under this Programme are in accordance with the Rules of the OECD Consensus.

1. borrowers

foreign buyer if covered by acceptable collateral, or
commercial bank of foreign buyer, with whom exporter has concluded export contract

Pursuant to the Conflict of Interest Prevention Act (Official Gazette of the Republic of Croatia Nos. 26/11, 12/12, 126/12, 57/15) and all subsequent changes and amendments, restrictions are in force on lending to business entities whose ownership interests are owned by public officials and their family members. The provisions of these restrictions are deemed a constituent part of HBOR loan programmes. The full wording of the restrictions can be found at: Restrictions on Lending to State Officials.

2. purpose of loans

financing exports of goods and services, except consumer goods, pursuant to the rules determined by the OECD Consensus

Benefits for exporter:

collection of payment for export transaction immediately upon delivery
payment to the account of exporter in the currency of export contract
loan is repaid by bank/buyer abroad
increase in liquidity of exporter
avoidance of risk of collecting payment for export transaction

3. Manner of Implementation

co-financing export transactions with other banks, or
financing the bank or the buyer abroad on its own

4. Loan Amount, Disbursement Period and Repayment

Loan amount

up to 100% of the export contract value for repayment periods of up to two years,
up to 85% of the export contract value for repayment periods of over two years,
loans are denominated in the export contract currency

Disbursement period

pursuant to the terms and conditions of the export contract

Repayment period

up to 10 years depending on the type of goods and/or services exported
as an exception, up to 15 years for financing the construction of hydro or thermal power plants, projects based on wind energy, geothermal, solar and bio energy projects, tide power plant projects and water supply and wastewater disposal projects

The first instalment matures 1, 3, 6 or 12 months after the loan repayment start date depending on the selected manner of repayment and the type of export transaction.

5. Interest

Fixed interest rate

CIRR + margin

Margin on CIRR ranges from 0.2%, depending on the creditworthiness of the buyer/bank, the export transaction and the importing country.

Variable interest rate

LIBOR/EURIBOR + margin

Margin depends on the creditworthiness of the buyer/bank, the importing country and the export transaction.

6. Loan application fee

0.5% one-off, charged on the contracted loan amount

7. Commitment fee

0,25% p.a. charged on the undisbursed loan amount

8. Security

bank guarantee

9. Scheme

contacts

kreditiranje(at)hbor.hr

Strossmayerov trg 9, 10000 Zagreb

Urudžbeni ured nalazi se privremeno na adresi Zelinska 3

hbor(at)hbor.hr

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Supplier Credit

Loans intended for exporters that sell on credit terms for the export of goods and services, except for consumer goods, pursuant to the rules determined by the OECD Consensus.

Pre-Export Finance

Pre-shipment export finance until collection (purchase of raw materials, production materials, semi-products, settlement of obligations towards suppliers, labour costs and other current expenses) and/or financing the collection of payment for an export transaction.

Working Capital

Loans for the financing of current business operations (e.g. purchase of raw materials, production materials, semi-products, small inventory, settlement of obligations towards suppliers, labour costs, general current operating expenses), settlement of short-term obligations towards financial institutions, the state and settlement of other short-term obligations, excluding the repayment of debt to the owner, related entities and other third persons, with the maximum repayment period of up to 12 months.