New lending scheme from OTP Business to help enterprises

OTP Business worked out a new lending scheme which targets small and medium-sized enterprises (SMEs). ‘OTP Business 250 Lending Scheme’ offers various types of loans from HUF 10 million to HUF 250 million. Enterprises with annual sales above HUF 250 million can apply for loans and they can get current, working capital and investment loans. This is a great funding opportunity for business in the retail trade sector. Tibor Csonka, the managing director of OTP Business told that the new scheme is a more versatile and flexible lending programme available to SMEs than ever before. Another advantage is that eligibility is assessed rapidly. Enterprises also have the opportunity to be granted current account loans up to HUF 100 million without having to present a legal guarantee. What is more, in the case of working capital and investment loans if certain criteria are met, it is enough for SMEs to use the financed assets as coverage. The managing director added that OTP Bank is dedicated to financing Hungarian SMEs in many different ways. OTP Business sees great potential in corporate lending, which is good news in the light of the fact that they have a direct relationship with 25 percent of Hungarian SMEs. OTP Business 250 can greatly contribute to SMEs making the most of EU funding – which requires own resources from enterprises – in the new programming period. (x)