1. Final Borrowers

  • companies, crafts businesses, co-operatives:

(I) investing in new or developing existing products that already have necessary certificates for the sale in the market or whose certificates will be procured out of the loan funds and


(II) using certified production materials and raw materials meeting the quality and security standards.


Pursuant to the Conflict of Interest Prevention Act (Official Gazette of the Republic of Croatia Nos. 26/11, 12/12, 126/12, 57/15), 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


I. Fixed assets  

  • land, construction facilities
  • equipment and devices
  • costs of certificate procurement


II. Permanent working capital  

  • up to 30% of the total loan amount or more if the borrower provides the evidence on merchandise credit to the buyer



3. Manner of Implementation


  • through commercial banks
  • risk-sharing model – small and medium enterprises
  • risk-sharing model
  • direct lending
  • subordinated debt model


4. Loan Amount, Disbursement Period and Repayment


Loan amount  

  • the maximum loan amount is not limited
  • loans are granted in HRK or are indexed to foreign currency



HBOR finances up to 75% of the estimated investment value, VAT not included. HBOR can, in certain cases, consider a possibility of financing the estimated investment value with VAT.


Disbursement period  

up to 12 months


Grace period  

up to 3 years


Repayment period  

  • up to 14 years, including grace period
  • in justified cases where an investment study indicates a need for longer maturity and grace periods, the repayment period can last up to 17 years, 4 year grace period included



5. Interest





2% p.a.              




borrowers investing in a region of special state concern or supported areas – units of local government classified into groups I and II or a hill or mountain area or the islands or agriculture or fishery
borrowers having proven their competitiveness by successful sales figures in domestic and/or foreign markets



3% p.a.



all other business entities



Depending on the capabilities of the final borrower on the realization of the right to the allocation of state aid and/or de minimis aid, loan comes with a general interest rate that is determined at least in the amount of reference or by the stimulating interest rate or the effective interest rate below the reference.
Interest rate is variable pursuant to the Decision of the Managing Board of HBOR and according to the criteria set out in HBOR’s Decision on the Interest Rates and the Interest Calculation Regulations.


6. Loan Application Fee


0,8% one-off, charged on the committed loan amount


7. Commitment Fee


0,25% p.a., charged on the committed undisbursed loan amount, starting 30 days after the loan contract date


8. Security


HBOR accepts:


  • bills of exchange and debentures
  • pledge of property or transfer of fiduciary title to property supported by property insurance policy endorsed in favor of HBOR bank guarantees
  • guarantees issued by HAMAG-BICRO and
  • other customary security in the banking operations


In the case of loans on-lent via commercial banks, collateral is determined by the commercial bank.


9. Commercial Banks Co-operating with HBOR on the Loan Programme


  1. Addiko Bank d.d., Zagreb (RS SME); (RS)
  2. Banka Kovanica d.d., Varaždin
  3. Erste & Steiermärkische Bank d.d., Rijeka (RS SME); (RS)
  4. Hrvatska poštanska banka d.d., Zagreb (RS SME); (RS)
  5. Istarska kreditna banka Umag d.d., Umag (RS SME)
  6. KentBank d.d., Zagreb
  7. OTP banka Hrvatska d.d., Zadar (RS SME); (RS)
  8. Podravska banka d.d., Koprivnica (RS SME); (RS)
  9. Privredna banka Zagreb d.d., Zagreb (RS SME)
  10. Raiffeisenbank Austria d.d., Zagreb (RS SME); (RS)
  11. Sberbank d.d., Zagreb (RS SME); (RS)
  12. Slatinska banka d.d., Slatina (RS SME); (RS)
  13. Societe Generale – Splitska banka d.d., Split (RS SME)
  14. Štedbanka d.d., Zagreb
  15. Zagrebačka banka d.d., Zagreb (RS SME); (RS)


Those commercial banks that have been included also into the financing under the risk-sharing model SME are marked by acronym RS SME; those that have been included also into the financing under the risk-sharing model are marked by acronym RS.


More detailed information can be found in the complete wording of the Loan Programme or at:
HBOR, Strossmayerov trg 9, 10000 Zagreb
Phone: +385 1 /45 91 666