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Jun 10, 2020

Finance Minister unveils HUF 137 billion credit scheme for small businesses

Mihály Varga said interest-free credit is to help businesses weather the coronavirus epidemic and prepare for the competition after the recovery.

 

The finance minister has unveiled a HUF 137 billion (EUR 397m) credit scheme for small businesses.

Mihály Varga said interest-free credit is to help businesses weather the coronavirus epidemic and prepare for the competition after the recovery. Half of the credit in the program will be made available for investments and half for working capital.

Investment loans are capped at HUF 150 million per company, while working capital loans are no larger than HUF 300 million. The credit is available to companies across the country with the exception of central Hungary, where GDP per capita exceeds the European Union average.