fi-compass Showcase 2019 submission – watch a video story from Croatia: Denona
This ‘fi-compass Showcase 2019’ submission is a video story from Croatia about the family-owned printing house Denona which is active mainly in the field of soft and hard cover book printing and exists for already 27 years.
With the loan from the financial instrument ‘ESIF Growth and Expansion Loans’ co-financed by the European Structural and Investment Funds (ESIF), Denona was able modernise its printing department by buying new printing equipment. In addition, further departments will also be modernised and new workers hired and trained. This investment will enable the company to lower its prices as the new equipment generates savings, and to offer its clients even more competitive deadlines. Through this investment, Denona aims to also further increase the export share in its operating revenues from its clients from abroad.
Maria Denona Gorički, Head of Finance at Denona, says: “ESIF Growth and Expansion Loans are a great thing and give entrepreneurs the opportunity to make savings and invest further in their business and their employees.”The ESIF financial instrument ‘ESIF Growth and Expansion Loans’ is being implemented by the fund of funds manager, the Croatian Bank for Reconstruction and Development (HBOR), via 3 commercial banks.
The video explains also the overall allocation of the loan instrument, the range of available loans, the type and sectors of potential final recipients, how the loans are being financed as well as the their interest rate.
