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Businesses apply for over HUF 20 bln of recovery microloans

Banking

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So far, almost 3,000 microbusinesses and SMEs have applied for HUF 20.4 billion in interest-free microloans the government has launched to aid the economic recovery, state secretary Tamás Schanda said on Thursday, state news wire MTI reports.

The interest-free loans are available to businesses in sectors hit hard by the pandemic for amounts of between HUF 1 million and HUF 10 mln. The 10-year loans have a three-year grace period.

The credit is available at Hungarian Development Bank MFB Points at select branches of Takarékbank, Budapest Bank, OTP Bank, MKB Bank and Gránit Bank.

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