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Guarantor Start guarantee stock climbs 14% in H1

Start Tőkegarancia, a state-owned guarantor for SMEs, saw its stock of guarantees rise 14% to HUF 3.85 billion in the first half, the company told MTI on Tuesday.

About 94% of the guarantee stock is for co-financing and collateral linked to EU grant money.

Stock of new contracts came to HUF 891 million in H1. Contracts for HUF 334 million expired without being called down.

The average contract size rose 15% to HUF 34.4 million as the majority of new contracts were for amounts over HUF 50 million.

Stock of contracts is expected to reach more than HUF 4.5 billion by year-end, up 35% from a year earlier, said Start CEO Csaba Zoltán. The company still has resources for guarantees as there is HUF 6.7 billion in the Start Guarantee Fund. (MTI-ECONEWS)