MKIK urges broader eligibility for interest-free microloans

Banking

Shutterstock.com

The chairman of the Hungarian Chamber of Commerce and Industry (MKIK) said the government should expand eligibility for interest-free microloans it is rolling out to help small businesses during the recovery in an interview on public television on Monday.

László Parragh told news channel M1 the first round of the credit, an allocation of HUF 100 billion, would be limited to companies whose business activities are among 25 designated areas. He added that HUF 100 bln had been earmarked for the second round, and the third round would go to startups in the fall.

The free-use microloans up to HUF 10 mln will be available with the cooperation of the Hungarian Development Bank (MFB), he said.

Parragh said the phones at the chamber were "ringing off the hook" as businesses enquire about the credit.

ADVERTISEMENT

Nearly 18% of Polish firms plan investments in next 3 months... Analysis

Nearly 18% of Polish firms plan investments in next 3 months...

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Chain Bridge to be closed for traffic for 18 months City

Chain Bridge to be closed for traffic for 18 months

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.