Croatian Agency for SMEs, Innovations and Investments (HAMAG-BICRO) was founded with the aim of supporting the development of small and medium-sized enterprises, improving the innovation process and encouraging investments.
HAMAG-BICRO provides guarantees to small and medium enterprises (SMEs). Guarantees are issued for loans approved by credit institutions and other legal entities approving loans to SMEs. Currently, HAMAG-BICRO offers three different guarantee programs approved by the Government of the Republic of Croatia.
Financial Instrument ESIF (European Structural and Investment Funds) for individual guarantees is intended for SMEs and is largely financed from funds of the European Regional Development Fund. Under this financial instrument, HAMAG-BICRO will provide to SMEs through financial institutions with a guarantee for coverage of part of the principal of a loan or lease. The minimum guarantee amount is € 150,000.00, and the maximum guarantee amount is € 1,000,000.00 (for working capital), or € 2,000,000.00 (for investments). The maximum guarantee rate is up to 65% of the principal loan amount (for working capital) or 80% of the principal loan amount (for investments). A risk premium of 0.25% to 1% of the guarantee amount is paid.
LIMITED PORTFOLIO GUARANTEE
Financial Instrument ESIF (European Structural and Investment Funds) for Limited Portfolio Guarantees is intended for SMEs. The financial institution will pursue a portfolio of loans or leases to SMEs, while HAMAG-BICRO will cover part of the principal and interest of the part of the loans or leases included in the portfolio by issuing guarantees through the signing of the Cooperation Agreement. Guarantee amount is up to € 150,000. The maximum guarantee rate is up to 80% of the principal loan amount. Both investment loans and working capital loans are included. There is no risk premium.
The Program aims to facilitate access to financing for micro, small and medium-sized businesses investing in eligible activities. Guarantees are provided both for investments and working capital, as well as for the purchase of business shares. The maximum guarantee amount is € 1,000,000.00 or up to 50% of the principal of the refinancing loan. For the purchase of business shares, the maximum guarantee amount is € 50,000.00 or 80% of the loan principal (for micro-entities) and € 2,000,000.00 or 60% of the loan principal (for small and medium-sized entities).
This financial instrument is intended for SMEs, including natural persons who, at the time of applying for a loan, do not have their own registered economic entity but plan to establish one which will have the status of micro, small or medium-sized business entity.
SMALL LOANS FOR INVESTMENTS
Loan amount varies from € 25,000.01 to € 50,000.00 with the interest rate ranging from 0.5% to 1.5% depending on the place of investment. The repayment period is up to 10 years, including the grace period. No approval fee is charged.
MICRO LOANS FOR INVESTMENTS
Loan amount varies from € 1,000 to € 25,000 with the interest rate ranging from 0.5% to 1.5% depending on the place of investment. The repayment period is up to 5 years, including the grace period. No approval fee is charged.
MICRO LOANS FOR WORKING CAPITAL
Loan amount varies from € 1,000 to € 25,000 with the interest rate ranging from 1.5% to 3.5% depending on the place of investment. The repayment period is up to 3 years, including the grace period. No approval fee is charged.
The call is implemented in the form of vouchers and aims at strengthening SME capacities for collaboration with higher education institutions and research organisations. Grant value varies from € 1,300 to € 10,000.
The call was published on 21 June 2018 and is open until June 2020.
INNOVATION FOR NEWLY ESTABLISHED SMES – PHASE II
The call “Innovation for newly established SMEs – Phase II” is aimed at newly established micro, small and medium-sized enterprises aimed to encourage them to successfully launch products and services with new and growing potential that are new to the market, with a focus on radical innovation and significant improvement in product commercialisation and services. Eligible applicants are SMEs not older than 36 months. Grant value varies from € 20,000 to € 186,000.
The call was published on 15 February 2019 and is open until 29 June 2020.
SUPPORT TO DEVELOPMENT OF NEW PRODUCTS/SERVICES RESULTING FROM R&D ACTIVITIES – PHASE II (ESI FUNDS)
The call aims to support the development of new products (goods and services), technology and business processes by increasing private investment in research, development and innovation, and strengthening the enterprise’s capacity for research, development and innovation by improving their cooperation with research and development institutions. Eligible applicants are enterprises (both as applicants and partners) and research organisations (as partners).
Proposals can be submitted from 31 January 2020 till 29 June 2020.
The call aims to encourage the cooperation of SMEs to create supplier relationships with Integrator companies and become part of their value chain by creating new innovative products and services. Eligible applicants are SMEs.
Call for proposals is in the announcement and its release is expected by the end of 2019.
EUREKA Network Projects are market-driven innovative R&D projects, devised and run by an international consortium. The funding and support are provided through the national innovation agencies and public administrations that make up the Eureka network. Grant value is € 200.000 (60% for micro and small, 50% for medium-sized enterprises, and 40% for large enterprises).
Next call for project proposals will be in 2Q of 2020.
Eurostars supports innovative international projects led by research and development-performing SMEs (R&D-performing SMEs). It is a joint programme between EUREKA and the European Commission, co-funded from the national budgets of 36 Eurostars Participating States and Partner Countries and by the European Union through Horizon 2020. Grant value is € 200.000 (60% for micro and small, 50% for medium-sized enterprises).
Next call for project proposals will be in February 2020.
PROOF OF CONCEPT
PoC provides support to beneficiaries in proving their concepts, allowing them to bridge the financing gap, to deal with technology risk and providing further assistance on their way to commercialisation. Eligible Activities are TRL 3-4 (Functional prototype, Technical demonstration, IP check and protection) with additional eligible activities consisting of Market analysis or Feasibility Study and Commercialisation plan.
Next call for project proposals will be in Q2 of 2020.