MKIK urges broader eligibility for interest-free microloans

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The chairman of the Hungarian Chamber of Commerce and Industry (MKIK) said the government should expand eligibility for interest-free microloans it is rolling out to help small businesses during the recovery in an interview on public television on Monday.

László Parragh told news channel M1 the first round of the credit, an allocation of HUF 100 billion, would be limited to companies whose business activities are among 25 designated areas. He added that HUF 100 bln had been earmarked for the second round, and the third round would go to startups in the fall.

The free-use microloans up to HUF 10 mln will be available with the cooperation of the Hungarian Development Bank (MFB), he said.

Parragh said the phones at the chamber were "ringing off the hook" as businesses enquire about the credit.

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