Guarantee scheme -InnovFin SME Guarantee Facility of the European Investment Fund (EIF)

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1 Guarantee scheme -InnovFin SME Guarantee Facility of the European Investment Fund (EIF) Zagrebačka banka d.d. EU Funds and Special Banking Arrangements Zagreb, July 2018

2 General information about the InnovFin Guarantee Facility In general about InnovFin Guarantee InnovFinprogram is a risk-sharing facility for SME and MidCapsfocused on research, development and innovations along with potential for innovations. This guarantee is supported by the European Commission within the framework of the financial instrument Horizon 2020 and European Fund for Strategic Investments (EFSI). InnovFin SME Guarantee covers 50% of the due amount on individual loans. UniCredit& InnovFin UniCredit Group (UCG) is one of the major partners of EIF for InnovFin financial instrument. Available in Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Serbia, Slovakia, Hungary and Romania. Total signed InnovFin portfolio in all UCG countries amounts EUR 500 M. Eligible Final Recipients Small and Medium Enterprises SMEs (<250 employees, EUR 50M revenues, EUR 43M assets) and Small MidCaps(max 499 employees). Registered in Republic of Croatia; Do not conduct R&I activities connected with people cloning, nuclear energy or research activities that have been banned in Croatia; Company does not participate in forbidden operations/activities(tobacco and distillated alcohol drinks, production and trade with weapons, casinos, information technologies related with providing support to before mentioned activities) Company is not undertaking in difficulty. 2

3 Financing conditions via InnovFin Guarantee Purpose Investments in tangible and intangible assets Working capital Business transfers Currency Amount Interest rate and fee HRK loans HRK loans with currency clause in EUR Foreign currency loans in EUR Minimum loan amount is ,00 EUR (HRK counter value of the said amount) Maximum loan amount is ,00 EUR (HRK counter value of the said amount) Interest rate, as well as fees are defined by the business decision of the Bank and depend on the risk evaluation of each individual Final recipient Amortization period Minimum maturity is 12 months Maximum maturity is 10 years (or 4 years in cases of bullet or balloon repayments) Grace period Up to 2 years 3

4 Innovation Eligibility Criteria - InnovFin SME Guarantee (1/2) Innovation Eligibility Criteria Evidence 1 The funds will be used to invest in producing, developing or implementing new or substantially improved (i) products, processes or services, or (ii) production or delivery methods, or (iii) organisational or process innovation including business models that are innovative and where there is a risk of technological, industrial or business failure Bank and/or EIF s estimation Fast-growing enterprise -with an average annualised endogenous growth in employees or in turnover greater than 20% a year, over a three-year period The Final Recipienthas been operating in a market for less than 7 years and its R&I Costs represent at least 5% of its total operating costs in at least one of the 3 years preceding the application for financing, or in the case of a start-up, in its current financial year The Final Recipient's R&I annual expenses are equal or exceed 20% of the loan amount as per the Final Recipient's latest statutory financial statements 5 At least 80% of the loan will be spent of R/I activities Business plan 6 The Final Recipient has been formally awarded grants, loans or guarantees from European R&I support schemes (e.g. Horizon 2020 or FP7) or through their funding instruments or regional, national research or innovation support schemes over the 36 months, under the condition that the loan is not covering the same expense Evidenceof received grants, loans and guarantees. 4

5 Innovation Eligibility Criteria- InnovFin SME Guarantee(2/2) The Final Recipient has been awarded over the last 24 months an R&D prize or Innovation prize provided by an EU institution or an EU body The Final Recipient has registered at least one technology right (such as patent, utility model, design right) inthe last 24 months and the purpose of the loan is to enable the use of this technology right The Final Recipient is an early stage SME and has received an investment over the last 24 months from a venture capital investor or from a business angel being a member of a business angels network; or the mentioned are shareholders in the Final Recipient The Final Recipient requires a risk finance investment which, based on a business plan prepared in view of entering a new product or geographical market, is higher than 50% of its average annual turnover in the preceding 5 years The Final Recipient s R&I Costs represent at least 10% of its total operating costs in at least one of 3 years preceding the application for the loan, or in the case of a start-up, in its current financial year (SME) R/I costs represent either, at least 15% of its total operating costs in at least one of 3 years preceding the application for the loan, or at least 10% per year of its total operating cost in the 3 years preceding the application for the loan (Small Mid-cap) The Final Recipient has incurred R&I expenses qualified in the past 36 months by competent national or regional bodies or institutions as part of general support measures approved by the European Commission and designed to incentivize companies to invest in R&I The Final Recipient has been designated in the past 36 months as an innovative company by an EU or national or regional institution or body Proof of registration of rights Evidenceof registration of rights Proof of investment Business plan Qualification evidence Qualification evidence 5

6 Contact: Josip Josipović Director EU Funds and Special Banking Arrangements Tel