Loan Programme for the Development of Private Small and Medium Businesses


1. Final Borrowers


  • companies, craftsman, natural persons running their businesses as sole traders
  • co-operatives, institutions that operates at least two years


Final borrowers can be legal entities and natural persons operating less than two years, if the owner and/or the founder have prior business experience.


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  

Tangible assets


  • initial funding
  • land plots, buildings
  • equipment and devices
  • nucleus breeding unit, planting perennial crops


Intangible assets


  • development of products or services, patents, licenses, copyrights, franchises


II. Permanent current assets  

  • up to 30% of total loan amount



3. Manner of Implementation


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


4. Loan Amount, Disbursement Period and Repayment


Loan amount  

  • the minimum amount HRK 80,000.00, the maximum amount HRK 8,000,000.00
  • loans are granted in HRK and indexed to foreign currency



As a rule, 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
  • up to 5 years for planting and/or restructuring of perennial crops


Repayment period  

  • up to 12 years, including grace period
  • in justified cases where an investment study indicates a need for longer maturity and grace period, the repayment period can last up to 17 years, 4 years grace period included



5. Interest Rate





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

4% p.a.  

all other business entities



Depending on the capabilities of the final borrower in obtaining the right to the award of de minimis aid, loan comes with a general interest rate that is determined at least in the amount of reference or by stimulating the interest rate or the effective interest rate below the reference.


Interest rate is variable based on the Decision of HBOR Managing Board and pursuant to the criteria of the HBOR’s Decision on Interest Rate 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 extended via commercial banks, final borrowers negotiate collateral with their commercial banks.


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. 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. Karlovačka banka d.d., Karlovac
  9. Kentbank d.d., Zagreb
  10. Kreditna banka Zagreb d.d., Zagreb
  11. OTP banka Hrvatska d.d., Zadar (RS SME); (RS)
  12. Partner banka d.d., Zagreb
  13. Podravska banka d.d., Koprivnica (RS SME); (RS)
  14. Primorska banka d.d., Rijeka
  15. Privredna banka Zagreb d.d., Zagreb (RS SME)
  16. Raiffeisenbank Austria d.d., Zagreb (RS SME); (RS)
  17. Samoborska banka d.d., Samobor
  18. Sberbank d.d., Zagreb (RS SME); (RS)
  19. Slatinska banka d.d., Slatina (RS SME); (RS)
  20. Societe Generale-Splitska banka d.d., Split (RS SME)
  21. Štedbanka d.d., Zagreb
  22. Vaba d.d. banka, Varaždin
  23. Veneto banka d.d., Zagreb
  24. 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 relating to this programme can be obtained at:
HBOR, Strossmayerov trg 9, 10000 Zagreb
Phone: +385 1 / 4591 666