MNB launches FGS GO credit program
Image by Jessica Fejos
The National Bank of Hungary (MNB) has published the product brochure of the new "Funding for Growth Scheme Go" (FGS Go), launching the credit program under a decision taken by the Monetary Council on April 7, state news wire MTI reports citing a statement posted on MNBʼs website.
Image by Jessica Fejos
The scheme makes HUF 1.5 trillion available to micro-, small and medium-sized businesses from April 20 through credit institutions and financial businesses at a fixed interest rate of a maximum 2.5%, available on a wider scale than before, helping SMEs to overcome the economic effects of the coronavirus.
The maximum tenor of the loans is set at 20 years. In a further easing of terms compared to previous phases of the FGS, it will be possible to draw down loans within three years from the signing of the contract, MNB said.
The minimum loan amount is reduced to HUF 1 million and the maximum loan amount per one SME is HUF 20 billion.
Financial institutions must assess loan applications within two weeks from the availability of the necessary information, MNB said.
ÁKK Sells HUF 50 bln of Bonds at Auction, Over Plan
Hungary to Address Future of Cohesion Policy During EU Presi...
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.
