Microloans for hardest-hit sectors available from Monday

Government

Zero-interest microloans the government is rolling out to support the recovery of businesses that have been hit the hardest by the coronavirus crisis will be available at the MFB Points of the Hungarian Development Bank (MFB) from Monday, the lender said on Thursday, according to a report by state news wire MTI.

The HUF 1 million-10 mln loans, announced by Prime Minister Viktor Orbán a month earlier, will first go to companies in the tourism, catering, culture, and sport sectors.

MFB said HUF 100 bln has been earmarked for the ten-year loans which have a three-year grace period. The credit may be used for payroll, utilities, inventory or working capital.

Applicants must show they had a profit at operating level in 2019, excluding unviable businesses from the scheme.

ADVERTISEMENT

Prices of resale homes in central Budapest fall Residential

Prices of resale homes in central Budapest fall

Vast majority of Hungarians worried about climate change Analysis

Vast majority of Hungarians worried about climate change

Survey data suggests nearly 60% of Hungarians sure to be vac... Issues

Survey data suggests nearly 60% of Hungarians sure to be vac...

Most seasoned travelers plan domestic vacations this year Tourism

Most seasoned travelers plan domestic vacations this year

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.