The guarantees, on 50% of the loans up to HUF 45 million, are provided under the Program for the Competitiveness of Enterprises and Small- and Medium-sized Enterprises (COSME) with support from the European Fund for Strategic Investments (EFSI) over three years, the EIF said. The guarantees allow K&H to lend to SMEs that would otherwise not have received financing, the fund added.

K&H CEO Hendrik Scheerlinck noted that the lender is the first institution in Hungary to make the COSME European Union guarantee program available.