Record year in the Széchenyi Card Program – KAVOSZ brought stability and momentum to the SME sector

By: Trademagazin Date: 2025. 07. 03. 11:01

The KAVOSZ group continues to be a key player in the financing of domestic micro, small and medium-sized enterprises (SMEs): the company achieved its strongest results in its history in 2024, disbursing more than 1,300 billion forints of new loans under the Széchenyi Card Program.

According to the newly published consolidated report, more than 37 thousand loan agreements were concluded under the program in 2024. A significant number of the financed enterprises achieved investment, technological, inventory or operational goals with the help of the program – thereby contributing not only to their own growth, but also to the stimulation of the economy and the preservation of jobs.

Interest rate subsidy, new momentum

One of the milestones of the year was the increase in interest rate subsidies: under the Demján Sándor Program, the interest rate on investment-type loans decreased from 5% to 3.5% as of November 2024. As a result, the volume of incoming investment loan applications increased by 80% in the last two months.

While 2023 was about crisis management and cushioning inflationary shocks, in 2024, long-term, sustainable developments came to the fore – with less but higher amounts of financing.

New chapter: organizational and digital renewal

From the fall of 2025, KAVOSZ will also be renewed at the organizational level: it will prepare for the challenges of the future with digital processes, more flexible operations and an updated product range. Last year, the partnership with credit institutions was already exemplary: from February 2025, interest rates were reduced by another 50 basis points, this time not only for investment loans, but also for liquidity loans – thanks to KAVOSZ’s unilateral commitment.

Value-based support for businesses

The Hungarian Chamber of Commerce and Industry and the National Association of Entrepreneurs and Employers remain committed to the future of the Széchenyi Card Program. The goal is for the program to provide predictable, effective and targeted financial support to domestic SMEs – in all market environments.

KAVOSZ has certified that if businesses have a secure financial background, they are able to adapt, grow and develop – which strengthens the entire Hungarian economy.