As from 1 May 2013, the Government has increased to 5% the interest subsidy provided for the facilities of Széchenyi Investment Loan, Széchenyi Own Contribution Supplementary Loan and Széchenyi Subsidy Advance Loan. The more favourable financing possibilities may contribute to the investment spirit of domestic small and medium enterprises, this way supporting the development of Hungarian economy. Due to the rate of interest subsidy exceeding that of the current base rate of the bank of issue, Hungarian companies may obtain a loan at an interest of less than 0.4% per month in the scheme.

The Széchenyi Card Programme, marketed in 11 credit institutes already, has become the most successful financing solution for entrepreneurs these days, partly due to the State interest subsidy. Close to 185 thousand loan transactions have been effected under the programme launched in 2002 so far, the placement amount is close to HUF 1 200 billion.

In order to make the popular programme successful, as from 1 May 2013, the Government provides an interest subsidy of 5 percentage points per year for the full amount of the loan contracts of the Széchenyi Investment Loan, the Széchenyi Own Contribution Supplementary Loan and the Széchenyi Subsidy Advance Loan, for the first three years of the term of the given transaction. The State subsidy up to 50% of the promissory note provided for the loans continues to be part of the three facilities. The cheap loan allows for the launching of investments, the modernisation of machinery and equipment postponed due to the crisis and keeps increasing the chances of the SME sector to participate in EU tenders.

Nándor Csepreghy, Deputy Secretary of State for development programmes in the Ministry of National Development, called the attention to the Széchenyi Own Contribution (SZÖK) and Széchenyi Subsidy Advance (SZTM) loans. The facilities aim at improving the tendering chances of small and medium enterprises as well as at the successful implementation of investments carried out from EU co-financing as soon as possible. The supplementary loan may cover the part of the total project cost over own funds and EU grants. Due to the advance loan, enterprises can get the EU funds awarded sooner. In the case of the two facilities, the loan amount requested may extend up to HUF 50 million; the maximum term is 10 years for the SZÖK, and 5 years for the SZTM.

László Krisán, chief executive of KAVOSZ Zrt. emphasized that, due to the increased interest subsidy, the interest of all the three loan products got under the BUBOR level; therefore, clients may have to pay a net transaction interest of even HUF 1.5 million less over a year. The Széchenyi Investment Loan may be used for financing the acquisition, construction and development of property as well as for the acquisition of machinery not only new but also second-hand. The product may be used with 20% own contribution, in the amount of HUF 1 50 million, for a maximum term of 10 years, with a grace period of even 2 years.


Ministry of National Development
Communications Department

KAVOSZ Zrt.
06 1 302 0855/2203


Budapest, 10 May 2013

(Ministry of National Development, Communications Department)