Széchenyi Card crisis credit schemes extended till year-end

Banking

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The deadline for applying for low-interest credit schemes for Hungarian companies hit by the coronavirus crisis available in the framework of the Széchenyi Card Program has been extended from June 30 until December 31, 2021, program coordinator KAVOSZ said on Thursday.

Under the schemes, businesses can get revolving credit as well as credit for working capital, payroll, or investments at annual rates of 0.1%-0.5%. Among the schemes are ones tailor-made for the tourism and farming sectors.

KAVOSZ CEO László Krisán said more than 33,000 applications for credit of over HUF 1 trillion had been made since the schemes were launched early in the crisis.

Last year, about 95% of those outlays were revolving credit or working capital loans, he added.

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