NGM State Secretary: Interest in fixed 3 percent SME loans is greater than expected

By: Trademagazin Date: 2026. 01. 28. 10:16

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The interest in the fixed 3 percent SME loans is greater than expected, with more than 19 thousand applications submitted by enterprises in an amount of more than 1,000 billion forints – said the State Secretary for the Development of Small and Medium-Sized Enterprises, Technology and the Defense Industry of the Ministry of National Economy (NGM) on Wednesday in the morning program of the M1 current affairs channel.

Richard Szabados indicated that enterprises have already signed contracts with banks worth 525 billion forints.

The Secretary of State recalled that since November 2024, the interest rate on the loan products of the Széchenyi Card Program has been reduced in three steps, the most significant step of which was in October last year, when the interest rate became a fixed 3 percent for all seven products.

The global economic situation and the high interest rate environment justified the introduction of subsidized loans to the market, and the stagnant corporate loan market was successfully stimulated, he emphasized. He added that the seven product types provide sufficient room for maneuver for businesses.

The Secretary of State said about the temporary suspension of the Demján Sándor Capital Program:

There seems to be more demand for the 100 billion forint framework, and the submission of new applications has been suspended due to the processing of the received requests. The market demand is higher than the budget, so the available amount will probably be increased

– said Richárd Szabados.

The Secretary of State also reminded that in the 11-point program to reduce tax and administrative burdens, in addition to tax measures, administrative obligations were also eased, which is also important for businesses.

Richard Szabados on Kossuth Radio Good morning, Hungary! he emphasized in his program: there is no economic growth without growth in the corporate credit market, and the interest subsidy was intended to create demand for the corporate credit market. The fixed 3 percent product package is significantly cheaper than market credit rates, he added.

The most popular are free-use credit products, but demand for investment loans is also picking up, the State Secretary of the Ministry of Finance explained.