Gov't Doubles Széchenyi Card Investment Borrowing Threshold
Image by Shutterstock.com
The government has decided to double borrowing thresholds for corporate investment credit available in the framework of the Széchenyi Card scheme, the Economic Development Ministry said on Tuesday, according to a report by state news wire MTI.
From August 1, the threshold for investment loans under the Széchenyi Investment Credit MAX+ scheme will rise from HUF 500 million to HUF 1 billion, while the threshold for Széchenyi Investment Leasing loans will increase from HUF 200 mln to HUF 400 mln.
The Széchenyi Card Program offers businesses credit at a fixed rate of 5%. Close to 30,000 applications for some HUF 1.2 trillion in credit have been submitted for Széchenyi Card MAX+ credit since the scheme's launch at the start of 2023, and contracts have been signed for half that amount.
Credit outlays in the Széchenyi Card Program and the Gábor Baross Reindustrialization Program are adding around 1.2 percentage point to GDP growth, the ministry said.
Erste Bank Hungary Q1 Earnings Close to HUF 29 bln
Hungary Welcomes Extension of China's Visa Exemption Policy
Living's Kassák Terrace and Park West 3 Classified as Brownf...
Aldi Opening Biggest Store in Budapest
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
