Gov't Launches MAX+ Subsidised Corporate Credit Scheme 

Government

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The economic development minister announced the launch on Friday of a credit program for businesses facing dearer borrowing costs backed by HUF 290 billion of budget support, according to a report by state news wire MTI.

The Szechenyi Card Programme MAX+ scheme offers credit at a fixed rate of 5% to cover overdrafts, working capital, and energy efficiency investments. The program also offers products targeted at microbusinesses and businesses in the tourism and farm sectors. Credit limits in the scheme are capped at HUF 500 million for investments and HUF 300 mln for overdrafts in the case of tourism businesses.

Economic Development Minister Márton Nagy said avoiding a recession while maintaining full employment and protecting families, is only possible by preserving predictable and secure corporate lending.

He noted that next year's allocation for the scheme has been doubled from 2022.

The Széchenyi Card Program has provided SMEs with around HUF 5.9 trillion in credit since its launch in 2002.

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