There are only six days left until the first auction of banks for loans and guarantees, but little is known in the public. Unofficially, we learn that the participation ratio in financing between HBOR and commercial banks will be 40 to 60 percent, rather than the initially planned 30 to 70 percent.
This is good news for entrepreneurs, as it means that there will be more affordable loans granted by the domestic development bank. The assumption is that HBOR, which received loans from banks at a price of 3 percent, could grant loans to entrepreneurs at an interest rate of 4 percent, while banks would likely charge 7 percent, which means that the weighted interest rate would amount to 5.8 percent. This, some bankers tell us, is quite favorable considering our (un)circumstances. Given that some companies pay double-digit interest rates for short-term liquidity loans, and that average interest rates on loans to companies, according to HNB data, ranged from 7.08 to 9.85 percent in November last year, an average of 5.8 percent sounds bearable. After all, many entrepreneurs have told us that interest rates up to 7 percent are not a major problem, but they are troubled by other conditions that are still unknown, and time is running out. However, whether these interest rates will indeed be bearable for entrepreneurs will be shown by the first auction on February 16. (Gordana Gelenčer)
