Hungary’s Minister for National Development and Economy Gordon Bajnai on Thursday announced a program to help SMEs and spur growth.
As part of the program, the turnover growth requirement for companies that win development grants will be lowered one percentage point, from 3-6pc, depending on the region. The government will also raise limits for state-subsidized microloans from Ft 6 million to Ft 10 million and extend runs from 5 to 10 years, as well as reduce the waiting period for taking out new working capital loans to one month from six.
Together with the Hungarian Development Bank, commercial banks will make available Ft 50 billion for refinancing loans between Ft 10 million and Ft 100 million. The construction will be available in just two months, Bajnai said. The government will provide guarantees up to 80% on loans up to Ft 100 million. (MTI-Econews)