MFB to launch HUF 70 bln SME credit program
The state-owned Hungarian Development Bank (MFB) is launching a HUF 70 billion refinancing facility to provide funding for small and medium-sized enterprises (SMEs) that are unable to obtain credit from commercial lenders due to their age or size.
SMEs can apply for loans of between HUF 1 million and HUF 100 mln as part of the program, the MFB told national news agency MTI.
The MFB launched a refinancing facility in 2017 as a pilot project for micro, small and medium-sized (non-farm) businesses that are unable to obtain credit under market conditions for some reason (higher risk, lower loan amount requested) or can only obtain funding under unfavorable terms.
The initiative, closed on March 30, 2018, was very well received and so the MFB decided to launch a new credit product based on the pilot program, the bank said.
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.