The topic of the paper is financial instruments in the function of overcoming the economic and financial crisis. The negative impact and consequences of the global health crisis caused by the COVID-19 pandemic are visible in many economic sectors in the world. All states were forced to take a series of security measures to prevent disease and preserve health, which included restricting the movement of people and thus the conduct of economic activities. Due to the exceptionally negative situation for the country's economy, the Government of the Republic of Croatia was forced to adopt various measures to encourage and support Croatian entrepreneurs and companies and to preserve the jobs of employees in most economic sectors. The mechanism of financial measures was of great importance in overcoming the economic and financial crisis. The purpose of the work is to contribute to the understanding of the issue of the use and role of financial instruments during the economic and financial crisis and to point out the positive and negative aspects of their use. The goal of the research is to point out the importance and opportunity of financing through financial instruments, which have proven to be a very simple and effective model of financing entrepreneurship. Financial instruments represent a key mechanism of contemporary anti-cyclical policy through the preservation of private sector business activity and the preservation of jobs.