Cheap Loans Now Available for Entrepreneurs Under New Government Programme

Entrepreneurs will now have access to cheaper loans after the Croatian government adopted its new credit programme “Microcredit – first step towards entrepreneurship”….

Under the new loan programme, micro loans – from 10,000 kuna (1,300 EUR) to a maximum of 120,000 kuna (15,000 EUR) will be granted to perspective entrepreneurs at an interest rate of 0.99%,with a six month grace and a repayment period of up to five years. The allowed share of current assets in the loan is a maximum 40% of the loan value, and down payment is not required. The Croatian government has set aside 5 million kuna (660,000 EUR) for the programme, and hopes to provide cheap loans to more than 40 new businesses to help them purchase equipment, machinery, software solutions and other assets during the programme.