Hungarian government announces no-fee guarantee for new investment loans for SMEs

Guarantee fees will be waived on some loans for local SMEs for the first year of the credit term, Richárd Szabados, the state secretary for SMEs, and István Attila Szabó, the head of guarantor Garantiqa, said in a statement issued by the National Economy Ministry on Friday.

The measure will apply to Széchenyi Card credit and other subsidised loans for investments. Garantiqa’s surety stock stands at HUF 2,580 billion (EUR 6.45 billion) on HUF 3,330 billion (EUR 8.32 billion) of credit. It has guarantees on 73,000 loans taken out by 54,000 businesses. One in two SME loans is guaranteed by Garantiqa.

Read also:

• Polish TVN in the crosshairs: Hungarian TV2 owner plans bold acquisition amid Russian influence fears
• Hungarian forint at 4-month low against USD, further weakening ahead?

Featured image: depositphotos.com