Covid-19 economic AID measures: ESIF loans for working capital Financing

Due to COVID-19 challenges and related economic aid measures proposed by Croatian Government, HAMAG-BICRO allowed companies to apply for an ESIF loan for working capital.

The differences compared to the current ESIF micro loans program for working capital (financing amount from EUR 1 000 to EUR 25 000) are:

• significantly less documentation required - shortening the time required to prepare a request
• lower interest rates
• extended grace period
• possibility to settle invoices incurred up to 3 months before the loan application is received

PURPOSE OF THE FINANCIAL DOCUMENT

The primary objective of the instrument is to provide current liquidity, primarily necessary for:

• financing current liabilities arising from business activities (employees, suppliers…)
• working capital financing for the smooth production process
• retaining existing employees

Financing of the costs of:

• material and other production costs
• employees
• business premises lease and cost of utilities
• other general expenses

Read more below.