[ad_1]
In order to keep companies operating, the Széchenyi card program will be expanded with four newly developed loan products, which will specifically facilitate liquidity access for micro, small and medium-sized companies, “announced László György .
The Secretary of State added that the net interest rate charged on the Széchenyi Job Retention Loan, the Széchenyi Plus Card Overdraft, the Széchenyi Liquidity Loan and the Széchenyi Plus Investment Loan is only 0.1-0.5 percent earned by customers.
the Széchenyi job retention loan Its term is two years and the maximum loan amount that can be requested is HUF 750 million. Salaries can be used for advance payments, personnel expenses, any other personnel payments, benefits, for a maximum of 9 months in the priority sector of the company, such as in particular for tourism, culture, retail, transport and health, and can cover up to 18 monthly salary costs.
The net interest rate on the loan is 0.1 percent, but there is a grace period for interest payments until the end of this year, and the grace period for principal repayment is 9 months. The product can be ordered independently or together with the Széchenyi Card Overdraft Plus. “The opportunity is another serious help for Hungarian companies to retain their workforce, in addition to the wage protection for work protection launched in the Economic Protection Action Plan and to make the working time framework more flexible”, László György emphasized.
The Széchenyi card overdraft plus credit product can only be applied for in conjunction with the Széchenyi job retention loan.
The free overdraft term is two years, and any company founded last year can apply for the loan. The maximum loan amount that can be requested is HUF 100 million, and the net interest that the company can receive is 0.1 percent in the case of this product as well. If you apply for the combined loan product together, you must expose the Széchenyi card overdraft plus the loan product to a maximum of 40 percent.
the Széchenyi liquidity loan The term of the working capital loan is 3 years, the maximum loan amount is HUF 250 million, the net interest rate is 0.2 percent. Businesses can apply for free use credit with account financing for, among other things, the purchase of working capital, other services used, and even credit redemption.
the Széchenyi plus investment loan It can also be used for investment loan purposes, to finance the related acquisition of current assets (up to a maximum of 20 percent of the latter), for the acquisition of tangible assets, for the purchase of commercial shares (to facilitate the change generational), for the redemption of loans. The term of the investment loan is a maximum of 6 years temporarily and a maximum of 10 years as a small donation. The loan amount is a maximum of HUF 1 trillion, and the interest rate charged by the company is 0.5 percent. The grace period for the payment of interest for the last two products is also at the end of 2020, the repayment of the principal can be 9 months for the liquidity loan and up to 24 months for the investment loan.
Loans are available from Kavosz Zrt., Which runs the Széchenyi card program. All companies have access to the credit resources provided under the program through the account holder’s bank.
Cover image: Getty Images
[ad_2]
