| Goal of the Loan Programme and Purpose of the Loans |
Financing of micro-entrepreneurs for the purpose of:
- self-employment
- establishment of crafts businesses and companies
- modernisation and expansion of existing businesses
- increase in the number of new jobs
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| Borrowers |
Private micro-entrepreneurs, natural persons or legal entities that meet the following criteria on the day of the loan application submission:
- - less then 10 employees
- - annual operating income of up to EUR 2 million equivalent value, or balance sheet total (for corporate income tax payers) or long-term assets (for personal income tax payers) of up to EUR 2 million equivalent value
- - up to 25% stake owned by a company that is not considered an SME in accordance with the EU criteria
In this respect, natural persons are persons generating income from independent activities or freelance professions.
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| Status of the borrower |
Not conditioned as a depositor of the Bank.
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| Manner of Financing and Loan Application Procedure |
HBOR implements this Programme by financing final borrowers via commercial banks that have accepted co-operation on the implementation of this Programme.
Final borrowers submit the loan application to the commercial bank.
Loan program is implemented under the model of the division of loss where the proportion of HBOR's loss amounts 70% and the share of a Commercial bank 30%
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| Loan Amount |
The maximum amount of micro loans in kuna equivalent 25,000.00 euros. The entire loan amount can be used for investment in fixed and / or working capital. VAT is not financed.
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| Purpose of the loan funds |
The Programme is intended for the financing of:
- fixed assets (initial funding, land plots, buildings, equipment and devices, nucleus breeding units, planting of perennial crops, development of products or services, patents, licences, concessions, copyrights, franchises),
and/or
- working capital
Not eligible for financing by this Programme are: casinos, banking services, insurance or financial intermediation, trading in real estate and production of arms.
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| Grace period |
Up to 12 months entering the loan repayment period
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| Repayment method |
In accordance with the decision by the Credit Committee of the Bank
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| Repayment period |
Up to 5 years
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| Interest rate |
Determined on the basis of the assessment of the placements risk.
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| Currency clause |
In HRK with the currency clause
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| Loan application fee |
1% one off, on the committed loan amount
Charged on or before the first disbursement
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| Commitment fee |
Calculated quarterly in the amount of 0.25% p.a. on the committed and undisbursed loan amount, starting 30 days after the date of the loan contract
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| Security |
Debentures from the final borrower. Depending on the assessment made by the bank, it may also take bills of exchange and create a lien on property, but only on that purchased from the proceeds of the loan.
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