The Slovenian Enterprise Fund is once again making micro-loans of up to EUR 25 000 available to micro, small and medium-sized enterprises at a favourable interest rate. Businesses will be able to access micro-credit quickly, easily, on favourable terms and without management and approval costs.

The Slovenian Enterprise Fund has published a public call for tenders P7-2 2024 – Microcredits 2024, which it is calling from SID Bank’s Fund of Funds for small investments or working capital. Micro, small and medium-sized enterprises with at least one employee, established before 1 January 2023 in the Republic of Slovenia, will be eligible to apply for funding under the call for proposals “P7-2 2024 – Mikokrediti 2024”.

The funds will be used to finance a variety of costs, such as: the purchase of new equipment, patent rights, licences, materials and merchandise, services, staff salaries and other operating costs. Eligible costs do not include the purchase of road freight vehicles, the construction, purchase and renovation of commercial real estate or the construction of solar power plants. Eligible costs of a business process or project may be incurred up to a maximum of 6 months before the application is submitted and 18 months after the credit is granted.

Credit is available on favourable credit terms:

• lower collateral requirements (8 company bills)
• lower interest rate (37.5% 6-month EURIBOR + 0.8% fixed mark-up),
• the possibility to benefit from a moratorium of up to 6 months,
• repayment period 2 to 5 years
• up to 100 % of the eligible costs of the project, up to a maximum of EUR 25 000,
• there is no charge for the costs of granting and managing the credit.

The preparation process is easy. Applications are submitted electronically via the SPS ePortal. The call for proposals has two application periods:

• October 2024 until 14:00
• November 2024 until 14:00.

Under this call for proposals, a borrower may be granted a maximum of one micro-credit application of between EUR 5 000 and EUR 25 000. The call may also be closed early if there is a high demand for the funds offered.

This is the second call for companies seeking to obtain favourable financing for small investments or working capital. Under the P7 2024 call, launched in February this year, the SPS has already granted €10 million in soft loans to help 410 micro and small enterprises overcome liquidity problems.

For more information about the competition and how to apply, please contact us at: [email protected]