Gov't announces improved conditions for Mikrohitel loan program

Initiatives

Businesses will be offered better terms under the state-sponsored Mikrohitel credit program for small businesses, deputy-undersecretary at the Ministry of Economy and Transport Mrs. Marianna Csákvári Pongor announced on Tuesday. From December 20, the maximum amount available under the facility will be raised to €25,000 or about Ft 6.35 million. The maximum run of the loans will also be extended from 5 to 8 years. Businesses pay a rate of between 3% over or under the central bank base rate on the loans, and they may apply for the loans in a simplified procedure. The Mikrohitel program's conditions were last changed in February 2005, when the maximum amount available under the facility was raised from Ft 3 million to Ft 5 million, and the maximum run was extended from 3 to 5 years. The ways businesses are allowed to use the loans was also expanded to include pre-financing and operating costs.

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.

Support the BBJ

Environment