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.
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