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Guarantor Start's contract stock jumps 30% in H1

Start Tőkegarancia, a Hungarian state-owned guarantor for SMEs, saw its stock of contracts rise 30% to HUF 2.66 billion in the first half of the year and could rise over HUF 3 billion by year-end because of increased lending risks, according to plan.

About 91% of Start's guarantee stock is for co-financing and collateral linked to EU grant money.

Start signed new contracts worth HUF 969 million in the first half and contracts worth HUF 322 million were closed trouble-free.

Among Start's 27 new clients in H1 were 6 micro-businesses, 15 small businesses and 6 medium-sized businesses.

The average contract in Start's stock of guarantees was for HUF 29.9 million, up from HUF 28.8 million at the end of 2008. Start expects to close contracts worth about HUF 270 million in H2. (MTI – Econews)