Interest rates are lower than ever

KAVOSZ Zrt. manages the Széchenyi Card Programme, which is already accessible at 11 financial institutions and in part due to the state’s interest rate subsidy it is the most successful enterprise financing solution in the market.

Loans in the programme now have lower interest rates than ever before. Hungarian SMEs can choose a scheme that suits their needs the most from six different loan products – loans can either be used one after the other or more at the same time. Széchenyi Card ‘Classic’ is the most popular scheme: it is an overdraft for SMEs, businesses can get HUF 25 million in just 3 weeks time; the current account loan’s net annual interest rate is 5.1 percent. Széchenyi Working Capital Loan lends from HUF 1 million to 25 million, its term is 3 years and it was designed to finance current assets; net annual interest rate is 5.1 percent. Széchenyi Investment Loan is perfect for property purchase and development purposes, it benefits from the government’s 5-percentage point interest rate subsidy. It requires 20 percent own funds, the sum is from HUF 1 million to 50 million, net annual interest rate is 1.6 percent, duration is 10 years. Széchenyi Own Fund Complementary Loan and Széchenyi Subsidy Pre-financing Loan are special loans to be used with European Union tenders; net annual interest rates are 1.6 percent and 1.1 percent, respectively. Agricultural Széchenyi Card is an overdraft scheme, tailored to meet the demands of the agricultural sector. Businesses can get HUF 500,000-25 million; net annual interest rate is 2.1 percent and 1-, 2- and 3-year durations are possible.