Széchenyi Card increasingly popular

By: trademagazin Date: 2009. 10. 27. 08:00

– Enterprises do not dare to make long term plans and choose easily accessible, cheap loans. Consequently, the number of companies applying for Széchenyi Card grew significantly – says László Krisán, CEO of KA-VOSZ Zrt. So far approximately HUF 700 billion worth of cards (loans), were applied for. This cost an annual HUF 3.5-4 million to the budget in interest rate subsidies, guarantees and taking over failed loans. However, returns were more than ten times higher from the VAT, different taxes or social security contributions. In 2009, the average number of applications was 2,200 per month, 13 percent more than a year before. With its simplicity and an average credit charge of 11.3 percent, Széchenyi Card is more favourable to SMEs than free-to-use loans of commercial banks. – KA-VOSZ pays special attention to rating and prerating enterprises. It is of everybody’s interest to find out whether an enterprise is eligible or not, by this avoiding unnecessary administrative work and costs – says László Krisán.

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