HBOR Interest Rate Reduction Measure for Final Borrowers that Match the Criteria for Youth Employment

HBOR HBOR Interest Rate Reduction Measure for Final Borrowers that Match the Criteria for Youth Employment

HBOR provides an additional benefit in the form of interest rate reduction by 20 basis points to final borrowers that employ and/or will employ young persons.

A young person is somebody who is not younger than 15 and older than 30 at the time of employment / training.

MANNER OF IMPLEMENTATION

Via HBOR loan programmes:

FINAL BORROWERS

Eligible final borrowers for interest rate reduction are

Micro-entrepreneurs with up to 9 employees per year (full-time employment) and
Small entrepreneurs with at least 10 to a maximum of 49 employees per year (full-time employment),

who, during the 6 months before submitting a loan application to HBOR or to a commercial bank employed and still employ, or plan to employ in the next 6 months at least one young person, counting from the date of signing the loan contract approved under this Measure*.

* It includes permanent employment, fixed-term employment, fixed-term employment for permanent seasonal jobs, internship, professional training without establishing an employment relationship, and does not include hiring workers through temporary employment agencies and work through pupil or student services.

INTEREST RATE

Interest rate under the loan programme, reduced by 20 basis points

APPLICATION OF MEASURE

New loan applications
Entire loan repayment period
Loan applications received in HBOR from 1.9.2023, for which approval decisions are made at HBOR by 31.3.2024

FORM OF STATEMENT ON FULFILMENT OF CRITERIA

As confirmation of the above, together with the Loan application, the final borrower submits a completed Statement on Fulfilment of the Criteria for Youth Employment“, and subsequently the proof - a certificate from the Croatian Pension Insurance Institute.
For printout, download the complete text of HBOR measure for youth employment.