Business Loans

A good entrepreneurial climate is an inevitable foundation of economic success. There are about 115,000 small and large entrepreneurs in Croatia, employing about 70 percent of workers, most of them in the County of Zagreb, Istria and Split-Dalmatia. But this is not some big figure. It is not surprising at all because entrepreneurs in their business expansion encounter numerous obstacles that prevent them from operating normally. High levies and taxes that inhibit investment and therefore employment are our daily routine.

Entry into the European Union enabled entrepreneurs to withdraw funds from European funds. Various banks, ministries, local self-government units and agencies responsible for project implementation have assisted in this. Given that this is a project aimed at stimulating economic development, special loans for entrepreneurs as well as women entrepreneurs are provided.

How entrepreneurs can withdraw money from European funds

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The mere fact that money is available to Croatian entrepreneurs is not enough. That money needs to be drawn from the funds. Entrepreneurs need to be educated in order to withdraw on time the funds available to Croatia, which is a hefty sum of 10.7 billion euros.

This type of corporate loan can finance tangible and intangible assets and up to 30 percent of the loan amount, depending on the lending conditions, can be used for working capital. These loans to entrepreneurs are calculated at special interest rates and do not include any loan processing fees. Their main advantage is in addition to low interest rates and a longer repayment period with the possible repayment of the loan.

What kind of loans for entrepreneurs do banks offer

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Banks offer special loans for entrepreneurs. They are intended for entrepreneurs who are just starting their business, as well as for those entrepreneurs who want to improve or expand their business. There are two types of loans for entrepreneurs, short term and long term. Short-term loans relate to balancing income and expense on the account, investing in current assets, and special types of financing for activities that derive most of the revenue from primary activities such as attorneys, notaries and dentists.

Long-term loans refer to long-term investments in activities such as tourism or agriculture. Most often it is about buying real estate and preparing for rent or investing in machinery for the long term. Primarily, these are major interventions that cannot be repaid during the short repayment period.

What kind of loans to entrepreneurs are loan companies offering

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Credit companies are excellent at keeping up with market demands, especially when it comes to digitizing their businesses. They switched their entire business to the internet, which means that every entrepreneur can apply for a loan in just a few mouse clicks. And literally at any time of the day because the documentation needed to exercise the credit entitlement can be scanned and uploaded to the website at any time. Most often, these are smaller amounts that require nothing more than a copy of your ID and current account card. What entrepreneurs value especially when they need an urgent financial injection.

The mere fact that everything can be done from the office is a positive thing for any entrepreneur who does not have time to stand in lines and collect piles of certificates. If everything is in order with the documentation, the money is paid into the account as soon as possible. The advantage of smaller amounts is that they can be repaid in the short term and re-raise loans for entrepreneurs if the need arises.

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