SME?s may receive more business loans next year
Monday, June 6, 2005, 00:00
About 30,000 small businesses may benefit from a proposal of the Economy and Transport Ministry to extend more business credit to SME?s between 2007 and 2013 with increased funding from the European Union. The plan needs the approval of the government, broadsheet Magyar Hírlap reported. According to the proposal, SME loans are expected to grow from the current Ft 30-40 billion per year to Ft 60 billion. The ministry also suggested a change to the system in which the loans are allocated. The government should call a tender to handpick the organizations that will be responsible for coordinating the allocation of these funds, rather than managing the project centrally, the ministry suggested. Among the potential candidates for this task are county-level business development centers, banks and various independent companies.