It took a while for the previously announced loan programs available through the network of KAVOSZ Zrt. to be open for application due to the radical changes observed in the Hungarian and foreign markets, but now is the time for businesses to act fast and secure the loans they are looking for on favourable conditions.
The National Bank of Hungary has increased the prime rate on several occasions recently as the FED (USA) and the ECB (European Union) also adopted a tighter monetary policy. In response to these changes, KAVOSZ updated the conditions for the Széchenyi Credit Card MAX program. The goal of the organisation is to ensure predictability and offer fixed interest rates to Hungarian businesses even in this changing economic environment.
Loan conditions – more favourable than what's available on the market, with maximum amounts ranging from HUF 250 million to HUF 400 million
Compared to the conditions published at the beginning of June, businesses need to prepare for an additional fixed 2 per cent net handling fee due to the changes in the banking and money market environments. Despite all of this, the Széchenyi Credit Card program still offers a favourable financing opportunity in comparison with the 15 to 20 per cent interest rate loans available on the market.
The products in the Széchenyi Credit Card MAX program are available to small and medium-sized enterprises that have no overdue public debt and, for loan amounts exceeding HUF 150 million, have been operating for at least one full year.
| Interest rate (GO) | Interest rate (MAX) | Maximum term | Maximum loan amount | Purpose | |
|---|---|---|---|---|---|
| Széchenyi Card Overdraft Facility MAX | fixed 2,5% p.a. | fixed 3,5% p.a. | 3 years | HUF 250 million | Financing day-to-day operations |
| Széchenyi Energy Card | - | fixed 1% p.a. | 1 years | HUF 250 million | Overdraft facility offered to businesses affected by the energy crisis |
| Széchenyi Liquidity Loan MAX | fixed 2,5% p.a. | fixed 3,5% p.a. | 3 years | HUF 250 million | For purchasing current assets required for day-to-day operations |
| Széchenyi Investment Loan MAX | fixed 1% p.a. | fixed 1,5% p.a. | 10 years | HUF 400 million | For nearly all investments requiring an investment loan |
| Széchenyi Investment Loan MAX; Investments in energy efficiency and technology change | - | fixed 0,5% p.a. | 10 years | HUF 400 million | Investments in energy efficiency and technology change |
| Széchenyi Lease Arrangement MAX | fixed 2,5% p.a. | fixed 3,5% p.a. | 10 years | HUF 400 million | Financing of fixed assets in the form of a finance lease |
