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Start Tőkegarancia raises guarantee limit to HUF 200 mln

Start Tőkegarancia, a state-owned guarantor for SMEs, said it raised the upper limit for guarantees without collateral for the self-financing part of grant-supported projects from HUF 100 million to HUF 200 million, effective April 12.

The intensity of grant money has started to decline significantly from this year, thus more self-financing will be necessary, Start Tőkegarancia said.

The guarantee fees on new contracts will be an annual 2.5% for contracts up to HUF 100 million and 3% for amounts over that.

Start Tőkegarancia saw its stock of guarantees rise more than 21% to HUF 4.07 billion by the end of 2010, Econews reported earlier.