Youth, Female and Start-Up Entrepreneurship

1. Borrowers

Private sector business entities – companies, crafts businesses, sole traders, family farms, cooperatives and institutions that are young entrepreneurs, start-ups or female entrepreneurs*

*Criteria for defining youth, female and start-up entrepreneurship are available in the General Eligibility Criteria, which are a constituent part of this loan programme.

2. Purpose of Loans

  • Investments in fixed assets (tangible and intangible assets) for the purpose of business start-up, business modernisation, introduction of new technologies, increase in capacities, including tourist capacities, development and introduction of new products and services, promotion of new employment, etc.
  • Working capital: up to 30% of the contracted loan amount

3. Manner of Implementation

  • In cooperation with commercial banks (via commercial banks or through risk-sharing model) – application and related documentation shall be submitted to the commercial bank by the borrower
  • Direct lending to borrowers (except family farms that are not within the VAT system and associations) – application and related documentation shall be submitted to HBOR by the borrower

4. Loan Amount

  • Generally, the minimum loan amount is HRK 200,000.00
  • The maximum loan amount is HRK 2,000,000.00 and depends on the specific features and creditworthiness of the borrower as well as the purpose and structure of investment. Financing through loan can be up to 85% of the estimated investment value, VAT not included*.
  • Depending on the specific features and creditworthiness of the borrower as well as the purpose and structure of investment, it is possible to finance up to 100% of the estimated investment value, VAT not included, in case of loans in the amount of up to HRK 700,000.00.

*HBOR can consider financing of 100% of the estimated investment value, VAT included, if the borrower delivers goods or provides services that are excluded from the VAT calculation or for the borrowers not operating within the VAT system.

5. Loan Currency

  • HRK
  • HRK indexed to EUR

6. Interest Rate

  • 2.00% p.a. fixed

In certain cases, interest rate can be higher depending on the regulations on the award of state aid and/or de minimis aid.

7. Fees

  • Variable, in accordance with the Decision on Fees for HBOR Services valid on the day of calculation:
    • Loan application fee: 0.50% on the contracted loan amount,
    • Commitment fee: 0.25% on the contracted undisbursed loan amount, and other fees in accordance with the Decision on Fees for HBOR Services valid on the day of calculation.

8. Period and Manner of Loan Disbursement

  • Generally, up to 12 months. Depending on the purpose and the dynamics of investment, it is also possible to approve a longer period of loan disbursement.
  • Part of the loan intended for the financing of fixed assets is disbursed to the account of seller/supplier/contractor based on the documentation for utilisation of loan for earmarked purposes
  • Part of the loan intended for the financing of working capital can be disbursed to the account of the borrower, with obligatory justification by documentation evidencing the use of loan for earmarked purposes

9. Repayment Period

  • Up to 12 years, with up to 3-year grace period included, depending on the purpose and structure of investment

As an exception to the mentioned, depending on the purpose and structure of investment, it is possible to approve the following repayment and grace periods:

  • For the planting and/or restructuring of perennial crops in agriculture: up to 14 years, including grace period of up to 5 years
  • For investments in tourism or if the investment study indicates the need for longer maturity and/or grace period: up to 14 years, up to 4-year grace period included

10. Repayment

  • Generally, in equal monthly, three-monthly or semi-annual instalments

12. List of Commercial Banks Co-operating with HBOR on the Loan Programme

Addiko Bank d.d.
Zagreb (PR)

Agram banka d.d.
Zagreb

BKS Bank AG
Glavna podružnica Hrvatska

Croatia banka d.d.
Zagreb

Erste & Steiermärkische bank d.d.
Rijeka (PR)

Hrvatska poštanska banka d.d.
Zagreb (PR)

Istarska kreditna banka d.d.
Umag

J&T banka d.d.
Varaždin

Karlovačka banka d.d.
Karlovac

Kentbank d.d.
Zagreb

Partner banka d.d.
Zagreb

Podravska banka d.d.
Koprivnica (PR)

Raiffeisenbank Austria d.d.
Zagreb (PR)

Sberbank d.d.
Zagreb (PR)

Slatinska banka d.d.
Slatina (PR)

Application documentation

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