Twice as many farmers apply for cheap loans
The number of farmers applying to the Funding Growth Scheme launched by the National Bank of Hungary (MNB) has more than doubled since last year, Hungarian daily Magyar Nemzet reported today.
The scheme allows SME’s to benefit from zero-per cent loans. In 2014, 34 % of the applicants are farmers, a significant rise from last year when they only accounted for 15% of the beneficiaries, said András Hercegh of the Farm Loan Guarantee Foundation.
The first phase of the Funding Growth Scheme started in 2013, with the central bank lending a total of HUF 750 bln to SMEs. The central bank has granted an initial HUF 500 bln for the second phase, which runs until the end of the year.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.