Business Cooperation Agreement Signed by HBOR and Zadar County
On 24 May 2024, the Croatian Bank for Reconstruction and Development (HBOR) and the County of Zadar signed a Business Cooperation Agreement on the implementation of the Youth, Female and Start-Up Entrepreneurship and the Private Sector Investment loan programmes. By the Agreement, the County of Zadar subsidises the interest rate by 2 percentage points for loans approved under the aforementioned programmes.
Loans will be available to micro, small and medium-sized business entities, including companies, crafts businesses, sole traders and for-profit institutions, provided that they invest in the territory of Zadar County regardless of their seat or residence. The maximum amount of loans for which interest is subsidised under the Private Sector Investment loan programme is EUR 400,000. Entrepreneurs can submit loan applications to HBOR or a commercial bank.
The Agreement was signed by Hrvoje Čuvalo, President of the Management Board of HBOR, and Božidar Longin, Prefect of Zadar County.
"Owing to the Zadar County subsidy, local entrepreneurs can now be offered more favourable terms and conditions of financing for their investments. More favourable financing means interest rates lower by two percentage points, which means that if entrepreneurs can obtain a loan from HBOR at an interest rate of three percent, they will not pay three percent but one percent, and the difference will be covered by the County," said Hrvoje Čuvalo, President of HBOR’s Management Board.
"I would like to take this opportunity to thank HBOR for everything done so far and I proudly emphasise that, today, we are one of the most developed counties and we have a lot to be proud of. Today, HBOR encourages small and medium-sized entrepreneurship, and the Agreement we are signing today will enable the implementation of programmes for young people, women and start-up entrepreneurs and will support that group that is just starting out in entrepreneurship. I thank HBOR and the commercial banks that will be involved in this implementation", said Božidar Longin, Prefect.
By opening the Regional Office in Zadar in September last year, HBOR additionally contributed to raising the quality of entrepreneurial climate in the region.
Loans will be available to micro, small and medium-sized business entities, including companies, crafts businesses, sole traders and for-profit institutions, provided that they invest in the territory of Zadar County regardless of their seat or residence. The maximum amount of loans for which interest is subsidised under the Private Sector Investment loan programme is EUR 400,000. Entrepreneurs can submit loan applications to HBOR or a commercial bank.
The Agreement was signed by Hrvoje Čuvalo, President of the Management Board of HBOR, and Božidar Longin, Prefect of Zadar County.
"Owing to the Zadar County subsidy, local entrepreneurs can now be offered more favourable terms and conditions of financing for their investments. More favourable financing means interest rates lower by two percentage points, which means that if entrepreneurs can obtain a loan from HBOR at an interest rate of three percent, they will not pay three percent but one percent, and the difference will be covered by the County," said Hrvoje Čuvalo, President of HBOR’s Management Board.
"I would like to take this opportunity to thank HBOR for everything done so far and I proudly emphasise that, today, we are one of the most developed counties and we have a lot to be proud of. Today, HBOR encourages small and medium-sized entrepreneurship, and the Agreement we are signing today will enable the implementation of programmes for young people, women and start-up entrepreneurs and will support that group that is just starting out in entrepreneurship. I thank HBOR and the commercial banks that will be involved in this implementation", said Božidar Longin, Prefect.
By opening the Regional Office in Zadar in September last year, HBOR additionally contributed to raising the quality of entrepreneurial climate in the region.