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HAMAG-BICRO provides guarantees to small and medium enterprises (SMEs) in compliance with the SME Development Promotion Act. Guarantees are issued for loans approved by credit institutions and other legal entities approving loans to SMEs.

Currently HAMAG-BICRO offers 3 different guarantee programs adopted by the Government of the Republic of Croatia.

With the help of HAMAG-BICRO Guarantee Programmes, SMEs have easier access to credit funds.

Issue of Guarantees

An SME first contacts a bank which has to give its consent for the issuance of a loan with the HAMAG-BICRO guarantee. After the loan has been approved, the bank submits its Decision on the issue of a loan to HAMAG-BICRO together with the Guarantee application and all the necessary documentation.

After receiving the above mentioned documentation, HAMAG-BICRO financial analysts process the application and make their assessment. Upon their assessment HAMAG-BICRO adopts a Decision on the issuance of a guarantee and submits it to the bank and the SME.

SMEs operating less than 24 months which qualify for EU Start-Up programs have an opportunity to apply for a letter of intent to issue a guarantee which can help them find more favourable funding sources. Letter of intent may be issued to all EU Start-Up program types except A1. It is important to note that HAMAG-BICRO can not issue a letter of intent once the SME has applied for a bank loan.