EUR 30m in guaranteed loans available to SMEs for development projects

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Ljubljana – Loans in the total amount of EUR 30 million have been made available to small and medium-sized enterprises (SMEs) as part of a loan guarantee scheme provided by the SID Banka export and development bank for projects intended for research, technological development and innovation.

Loans will be available through the Delavska Hranilnica bank, which has been selected through a call for applications published in February, SID Banka announced in a press release on Thursday.

They come with free guarantee from the state-owned bank and will be granted in the amounts ranging from EUR 10,000 to EUR 10 million under favourable borrowing terms.

SID Banka said that Delavska Hranilnica might use the scheme to finance sole proprietors, micro companies and SMEs in projects projects intended for research, technological development and innovation and investments in assets.

The loan takers will also be able to use the funds for working capital used for diversification of production, improvements of the existing products or services or changes in the production process.

Delavska Hranilnica CEO Renato Založnik said on the occasion that the bank’s vision was to support entrepreneurs and SMEs as the backbone of the Slovenian economy, also in cooperation with other stakeholders.

The financial instrument is part of the Fund of Funds, which is intended for financing of sustainable economic growth and development, innovation investments and current operations by means of debt and equity instruments.

Companies and other end-users have a total of EUR 370 million on their disposal as part of the scheme until the end of 2023.