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EBRD supports leasing in Croatia
€10 Million loan to S-Leasing to benefit small businesses
The EBRD is lending to Erste & Steiermarkische S-Leasing, the fourth largest
leasing company in Croatia, €10 million under the leasing window of the
EU/EBRD SME Finance Facility to help entrepreneurs gain more access to lease
finance.
S-Leasing will use the loan to provide lease finance of up to €30,000 (or the
Croatian Kuna equivalent) to micro businesses (employing less than 10 staff)
and up to €125,000 to small businesses (employing less than 100 staff). The
loan will also enable S-Leasing to expand its systems by, for example,
improving credit scoring facilities, and will help train additional staff.
This is the second EBRD lease finance of its kind in Croatia.
Charlotte Ruhe, EBRD Director for Croatia, said enabling entrepreneurs to gain
more access to finance – for example by leasing equipment – is crucial for
economic growth that also has social benefits such as job creation. Ultimately
this loan will benefit local micro and small business owners by helping to
promote competition in the lease sector, said Ms. Ruhe.
Established in 1997, S-Leasing is mainly a lease provider for personal cars
and trucks and is the market leader in vessel leasing. The company is also
developing other lines of lease business such as technological equipment and
industrial machinery. With its headquarters in Zagreb, the capital, and
another seven offices throughout the country, S-Leasing employs around 75
staff.
The EU/EBRD SME Finance Facility, a joint programme of the European Commission
and the EBRD, supports the development and growth of entrepreneurs by
facilitating their access to finance. Under the programme, the Bank will make
available funding of €1.35 billion, of which €1,076.5 million has been
committed to signed projects to date. The EC has contributed €157million in
grant financing since the launch of the programme in 1999.
For further information about the Phare programme, the main channel for the
EU’s financial and technical cooperation with accession countries, see:
http://europa.eu.int/comm/enlargement.
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