Historical record: 5,000 businesses applied for the fixed 3 percent SME loan in the first month

By: Trademagazin Date: 2025. 11. 10. 11:10

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An unprecedented rush has begun for the new, fixed 3 percent interest rate business loans: in the case of the seven products of the Széchenyi Card Program, more than 5,000 applications and 280 billion forints of loan applications were received in a single month – the Ministry of National Economy (NGM) announced in its statement on Monday.

The preferential scheme restarted corporate lending, raising loan demand to a record level. In annual comparison, the number of applications has more than doubled and the amount has tripled compared to the October 2024 data – the ministry summarized.

However, the government is not stopping here: in order to support the investments of domestic SMEs, increase their productivity and facilitate their growth, it is doubling the maximum amount of capital that can be invested in a business under the Demján Sándor Capital Program, and is also launching the second phase of the 1+1 Program – they wrote.

Remembered:

The government introduced the fixed 3 percent SME loan on October 6, which triggered an unprecedented rush for the new, preferential interest rate business loans: in the case of the seven products of the Széchenyi Card Program, more than 5,000 applications and 280 billion forints of loan applications were received in a single month. In annual comparison, the number of applications has more than doubled and the amount has tripled compared to the October 2024 data.

The announcement quoted Richárd Szabados, State Secretary for the Development of Small and Medium-Sized Enterprises, Technology and the Defense Industry, who emphasized that the 3 percent subsidized interest rate provided by the government allows companies to finance their working capital and operating needs with cheaper sources, while improving their cash-flow situation and reducing their financing risks.

In the 18 working days following the launch of the fixed 3 percent SME loan, applications for liquidity-type loan products worth 240 billion forints were received, which is more than in any other month so far. Another significant result is that the demand for liquidity loans did not significantly reduce the demand for investment loans. This is shown by the fact that during the month, KAVOSZ offices registered 1,200 investment loan applications worth 38 billion forints, which exceeds the data from a year earlier by 70 percent in both number and value.

The Ministry of Finance added that the introduction of the fixed 3 percent business loan also set a record in that the average loan amount increased drastically. In recent applications, the average loan amount for the Széchenyi Card MAX+ exceeded 65 million forints – while in previous months there was no example of businesses requesting an amount above 52 million forints. The average amount of applications so far in the Széchenyi Card Max+ scheme has been 45 million forints, meaning that businesses have made more than 40 percent higher loan demands as a result of the interest rate cut, the Ministry of Finance announced.