Published: December 23 2023
Starting from January, Hungarian businesses in Budapest will have access to more accessible microloans through the Széchenyi Kártya Program Max Plusz.
Increased Maximum Loan Amount
The most significant change is the increase in the maximum loan amount from 50 million to 100 million forints. This change aims to provide businesses with more financial support for their growth and development.
Changes in Loan Programs
Several changes have been made to different loan programs under the Széchenyi Kártya Program Max Plusz. Fuvarozó vállalkozások will now be able to borrow up to 35% of their revenue through the Széchenyi Kártya Folyószámlahitel and Likviditási hitel. The maximum loan amount for Széchenyi Beruházási és Agrár Széchenyi Beruházási Hitelek has been increased from 1 billion to 1.4 billion forints. The interest rate for green investment loan purposes within the Széchenyi Beruházási Hitelen has been reduced to 1.5% from the previous fixed 5%. Additionally, the maximum loan amount for Széchenyi Mikrohitel has been increased from 50 million to 100 million forints, with the overall limit for the customer group increasing to a maximum of 200 million forints.
Inclusion of Electric Vehicles
As part of the Széchenyi Mikrohitel, tisztán elektromos járművek (pure electric vehicles) are now included as eligible loan purposes with a maximum purchase limit of 25 million forints.
Stable Interest Rate and Future Outlook
The Széchenyi Kártya Program Max Plusz offers a fixed 5% interest rate for the entire duration of the loan, providing a significant advantage compared to non-preferential corporate loans. Although the discount may decrease over time due to declining market interest rates, the difference remains substantial. It is expected that the fixed 5% interest rate will continue to be available in 2024 as well.
Success of the Program
Since the launch of the Széchenyi Kártya Program Max Plusz in early 2023, nearly 51,000 loan applications have been received, amounting to approximately 210 billion forints. Out of this, around 1,250 billion forints have already been contracted and disbursed.
Businesses in Budapest can look forward to these new changes in the microloan programs offered through the Széchenyi Kártya Program Max Plusz starting from January. These modifications aim to provide more accessible financial support for businesses to facilitate their growth and development.
Questions & Answers
What changes will be introduced in the Széchenyi Kártya Program Max Plusz loans from January? The maximum amount of microloans will be increased from 50 million to 100 million forints.
Which businesses will benefit from the increased loan amount? The increase in the maximum loan amount will benefit small and medium-sized businesses (kis- és középvállalkozások).
What is the maximum amount that can be borrowed for Széchenyi Beruházási and Agrár Széchenyi Beruházási Hitelek? The maximum loan amount for these investment loans will be increased from 1 billion to 1.4 billion forints.
What will be the new interest rate for green investment loans within the Széchenyi Beruházási Hitelen? For green investment loans, the customer's net interest rate will be reduced from the current fixed rate of 5% to 1.5%.
What will be the maximum amount that can be borrowed for Széchenyi Mikrohitel? The maximum amount that can be borrowed for Széchenyi Mikrohitel will be increased from 50 million to 100 million forints. The maximum limit for the customer group will increase to a maximum of 200 million forints.
Will the Széchenyi Kártya Program continue to offer loans at a fixed interest rate? Yes, the Széchenyi Kártya Program will continue to offer loans at a fixed interest rate of 5%. This fixed rate is lower than non-preferential corporate loans.
What has been the response to the Széchenyi Kártya Program Max Plusz since its launch in 2023? Since its launch in 2023, the Széchenyi Kártya Program Max Plusz has received nearly 51,000 loan applications worth approximately 2,100 billion forints, with 1,250 billion forints already contracted.
