HBOR introduces a new temporary loan measure for entrepreneurs in wood processing and furniture production activities
The Croatian Bank for Reconstruction and Development has introduced, in cooperation with the Ministry of Agriculture, a new temporary loan measure for entrepreneurs in wood processing and furniture production activities.
The measure will be implemented under the Working Capital loan programme and will apply to the applications received in HBOR until 1 August 2024 or until the funds provided by the Ministry of Agriculture have been used up.
Eligible borrowers are small, medium-sized and large enterprises operating in the following sectors: manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials (C16) and manufacture of furniture (C31).
The purpose for which the loan funds will be used: solving liquidity problems and reducing financial damage in the operations of entrepreneurs, whose activity has been reduced due to market disturbances, which includes: financing of salaries, utility costs and other basic operating costs (the so-called overhead costs), procurement of raw materials, production materials, semi-finished products, small inventory, settlement of obligations to suppliers and other current operating costs; except for loan obligations to commercial banks and other financial institutions and VAT.
Minimum individual loan amount is EUR 100,000, and maximum individual loan amount is EUR 1,000,000.
For the entire duration of the loan, the Ministry of Agriculture will subsidise up to 50% of interest rate, p.a., fixed, that is charged to the borrowers in accordance with the state aid rules.
More information can be found here.
The measure will be implemented under the Working Capital loan programme and will apply to the applications received in HBOR until 1 August 2024 or until the funds provided by the Ministry of Agriculture have been used up.
Eligible borrowers are small, medium-sized and large enterprises operating in the following sectors: manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials (C16) and manufacture of furniture (C31).
The purpose for which the loan funds will be used: solving liquidity problems and reducing financial damage in the operations of entrepreneurs, whose activity has been reduced due to market disturbances, which includes: financing of salaries, utility costs and other basic operating costs (the so-called overhead costs), procurement of raw materials, production materials, semi-finished products, small inventory, settlement of obligations to suppliers and other current operating costs; except for loan obligations to commercial banks and other financial institutions and VAT.
Minimum individual loan amount is EUR 100,000, and maximum individual loan amount is EUR 1,000,000.
For the entire duration of the loan, the Ministry of Agriculture will subsidise up to 50% of interest rate, p.a., fixed, that is charged to the borrowers in accordance with the state aid rules.
More information can be found here.