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Microloan ceiling raised





Since the Economy Ministry raised the microloan ceiling from Ft 2
million to Ft 5 million and extended the term of the loans from 3 to 5
years back in February, a total of Ft 800 million worth of loans have
been paid out to SMEs by the beginning of June. SMEs in Veszprém county
received the largest chunk of money with Ft 101.8 million, while in
Budapest, only Ft 6.5 million worth of loans have been granted. SMEs
have submitted bids to preferential loans worth of Ft 2.5 billion, and
Ft1.7 billion worth of loans have been approved by local
entrepreneurial development organizations, as well as the Hungarian
Entrepreneurial Development Kht, which oversees the microloan fund. (Nb
1) P.O.