The Financial Instrument “COVID-19 Working Capital Loan” is intended for small business entities affected by the coronavirus pandemic and is entirely financed by the European Regional Development Fund. Within this financial instrument, HAMAG-BICRO directly approves working capital loans to micro, small, and medium-sized enterprises.
Objective of the Financial Instrument
The goal of this financial instrument is to provide additional liquidity to micro, small, and medium-sized enterprises by reducing interest rates and lowering the required level of collateral.
The program targets micro, small, and medium enterprises that have been operating actively for at least three months in 2019, and that meet one of the following criteria:
- Were closed by the Decision of the Civil Protection Headquarters of the Republic of Croatia dated November 27, 2020,
or - Experienced a decline in revenue of 60% or more in 2020 compared to 2019.