The programme foresees HRK 300 million in loans with guarantees of 100% of the principal and a maximum amount of €800,000 per applicant. The shortest period of the guarantee is one year and the most five years, which includes a one-year grace period.
Minister of Culture and Media Nina Obuljen Koržinek recalled that the government adopted the guarantee programme for enterprises in culture and the creative industry in July last year, which was the first time in history.
Considering that the pandemic situation has continued, the government has decided to extend the guarantee programme until 30 June, said the minister and added that preparations are underway to extend the programme until the end of 2021.
The loan guarantee programme is earmarked for SMEs in the field of culture and creative industry affected by the coronavirus pandemic.
The programme is aimed at securing additional liquidity for micro, small and medium-sized enterprises in culture and the creative industry at a decreased interest rate and/or fewer collateral required.
The programme is based on the European Commission Temporary Framework to support economy in the context of coronavirus outbreak. It was approved by the Commission on 17 June 2020 and adopted by the government on 2 July 2020.
Following amendments on 13 October 2020, the Commission enabled member states to extend the duration of state support until 30 June 2021, the government explained.
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