The credit is expected to support 4,000-4,500 businesses.

The scheme is a component of the HUF 155bn SME Technology Plus Lending Programme. The other component of the scheme, credit for investments, was launched earlier. So far, over 600 businesses have applied for HUF 35.2bn of the subsidised credit.

Demand for interest-free working capital credit strong

Microbusinesses and SMEs submitted applications for HUF 5bn in subsidised working capital loans from the SME Technology Plus Lending Programme on the first day after the scheme was launched, Richard Szabados, the state secretary for SMEs, said on public television.

The credit scheme, launched on Tuesday, offers businesses interest-free working capital loans of HUF 1m to HUF 20m. The HUF 70bn scheme is a component of the HUF 155bn SME Technology Plus Lending Programme. The other component is investment credit.

The credit programme, supported by the European Union, is focused on businesses in underdeveloped regions.

 

Source: MTI – Hungary’s national news agency since 1881. While MTI articles are usually factual, some may contain political bias, and readers should be aware that such content does not reflect the position of XpatLoop, which is neutral and independent.

Since the goal of XpatLoop is to keep readers well briefed, right across the spectrum of opinions, MTI items are shared to ensure readers are aware of all narratives within the local media.

XpatLoop believes in empowering readers to form their own views through complete and comprehensive coverage. To facilitate this XpatLoop has a balanced range of news partners, as you can see when you surf around XpatLoop.com

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