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Sunny loans

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Sunny loans for micro and small enterprises

Sunny loan is an investment loan intended for purchase and building in of solar energy systems for production of electric and thermal energy further to a sales and purchase agreement previously entered into with the Croatian Energy Market Operator (HROTE).

Loan type and purpose

The loan may be used to finance and make the project documentation, or to settle other expenses incurred in the process of purchasing and building in of solar energy systems.

Loan amount

Loan amount is defined by the value of the investment and it can range from EUR 5,000 to 150,000 in HRK equivalent. The Bank can finance up to 90% of the value of the total investment net of VAT, depending on the loan amount and the evaluated credit worthiness of the applicant.

Interest rate

Interest rate: nominal of 6.49% p.a., variable.

Front-end fee*

Front-end fee equals 1.5%, and may not be less than HRK 500.

     * by arranging one of the packages for MSE you can get up to 100% discount on front-end fee

Repayment date and manner

The loan repayment date is to be aligned with the period of sale of power as stipulated in the mentioned sales and purchase agreement, but shall not exceed 14 years. The loan is to be repaid in monthly instalments, with a six-month grace period option. The repayment is done through a separate account with OTP banka where all payments generated from the sale of power are accumulated.

Loan disbursement

The loan is disbursed to a contractor, further to the pro-forma invoices for delivery, assembling and maintenance.

Security instruments

Loans up to EUR 40,000 can be contracted with negotiable security instruments of the business entity or its owner (debit notes, bills of exchange), whilst higher loan amounts require liens on real properties and chattels, or some other acceptable security instruments (deposit, government guarantee or similar). All loan agreements shall stipulate the assignment of claims further to the Power Sales Agreements.