Financing Permanent Working Capital for Business Intensification


1. Final Borrowers


  • companies, craftsmen, natural persons – family farms within the VAT system, cooperatives and institutions


Loans under this Loan Programme can be used by small and medium-sized companies that have finally completed a pre-bankruptcy settlement procedure at the commercial court, provided that their key creditors, especially financial institutions, have supported their restructuring plans, and if not, that they have approved and agreed rescheduling of obligations before the submission of loan applications to HBOR. Terms and conditions for such borrowers are given in Enclosure I which is a constituent part of the complete Loan Programme. The possibility of financing small and medium-sized enterprises in this respect does not relate to primary agriculture and fisheries sector, if the funds are not placed at the promotional interest rate.


2. Purpose of Loans


  • financing investments in permanent working capital for business intensification.


3. Manner of Implementation


  • via commercial banks
  • risk-sharing model – small and medium enterprises
  • risk sharing model


4. Loan Amount and Repayment Period


Loan amount
  • Not limited, depends on HBOR’s available funds, opinion of the commercial bank, creditworthiness of the final borrower, final borrower’s requirements of the permanent working capital and the possibility of utilisation of de minimis state aid
  • Loans are granted in HRK, not foreign currency indexed.
Disbursement period  

up to 6 months


Grace period  

up to 2 years


Repayment period  

from 2 to 6 years, including grace period


5. Interest Rate for Final Borrowers


4% p.a.


Interest rate is variable based on the Decision of HBOR’s Managing Board, and pursuant to the criteria of HBOR’s Decision on 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. of the committed undisbursed loan amount, starting 30 days after the loan contract date


8. Security


  • bills of exchange and debentures
  • pledge of property or transfer of fiduciary title to property
  • bank guarantees
  • guarantee of HAMAG-BICRO and
  • other security instruments customary in banking operations


Final borrowers negotiate collateral with commercial banks.


9. Commercial Bank Co-operating with HBOR


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


The aforementioned commercial banks have been included into the financing through commercial banks.


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 ralating to this programme can be obtained at:
HBOR, Strossmayerov trg 9, 10000 Zagreb
Phone: +385 1 / 45 91 666