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Possible advent of EXIM Microcredit Card

Initiatives

The National Economy Ministry (NGM) and the state-owned Hungarian Export-Import Bank (Eximbank) would introduce the EXIM Microcredit Card. 

National Economy Minister Mihály Varga said the card is aimed to provide SMEs with access to credit at favorable interest rates for enabling them to facilitate their business on export markets.

Varga added that the EXIM Microcredit Card is expected to be introduced this fall and in their main scope are SMEs that do not qualify for state Széchenyi Cards providing businesses access to revolving credit. Roland Natran , CEO of Eximbank, said that the SMEs are eligible to obtain credit under benign terms maintained by the bank's EXIM Microcredit Program. The maximum sum of the credit is HUF 6 million with a maturity of one year and interest cap of 4.1%.

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