Favorable Loans from HPB Secured for Zagreb Craftsmen

The agreement enables loans of a maximum amount of 40,000 kuna, with a maturity of up to 12 months and a fixed interest rate of four percent. These loans are primarily intended for the current basic needs of craftsmen, ensuring liquid assets that allow operations until the collection of receivables.

Hrvatska poštanska banka and the Association of Craftsmen of the City of Zagreb signed a Cooperation Agreement on short-term financing for craftsmen on Tuesday, based on which HPB offers loans of up to 40,000 kuna to the members of the Association, with a fixed interest rate of four percent and a repayment period of up to one year.   

HPB has historically been very strongly linked to the crafts sector, supports it, and tries to offer what will give it the opportunity for advancement and the creation of added value, said Boris Bekavac, Executive Director of the Business Sector with the Economy of HPB, at the signing of the agreement.

He reported that the agreement enables loans of a maximum amount of 40,000 kuna, with a maturity of up to 12 months and a fixed interest rate of four percent. These loans, he said, are primarily intended for the current basic needs of craftsmen, ensuring liquid assets that allow operations until the collection of receivables.

Each member of the Association of Craftsmen of the City of Zagreb, according to their creditworthiness, will be able to apply for a loan. The President of the Association of Craftsmen of the City of Zagreb, Antun Trojnar, emphasized that the Association has provided a deposit of one million kuna for its members to achieve the most favorable loans possible. He stated that minimal paperwork has been agreed upon, which maximally simplifies the loan acquisition for craftsmen.

– Craftsmen with these funds can cover some current expenses, settle debts to be able to compete for non-repayable incentive funds from the City of Zagreb, and they can also use them for the procurement of raw materials and other needs, emphasized Trojnar.

In addition, he added, the desire is to encourage craftsmen to expand their businesses, and if they have liquidity difficulties, to help them “jump over that step” and move forward.

He also stated that the Association of Craftsmen of the City of Zagreb has waived interest on term deposits placed to ensure that the membership receives the most favorable interest rates.