Government helps winning applicants receive loans2011. szeptember 26.
The New Széchenyi Plan Combined Loan Guarantee tenders for micro, small and medium enterprises will be available from October. The government provides EU-funded security for the tenders amounting to HUF 400 million. The new call for tenders is realised through one-stop shop administration, with banks providing the full sum of the EU grant in advance for the duration of the implementation of the project. It is made simpler by the fact that security only has to be provided towards the finance provider. The enterprises need to finance 25% of the total cost; the rest of the project budget is given by 25% non-refundable EU grant and 50% bank loan.
In the framework of the Economic Development OP the National Development Agency (NDA) allocated HUF 4 billion to the programme “Complex company technology development for micro, small and medium enterprises”, and HUF 2 billion to the programme “Development of logistic centres and services”. The enterprises need to finance 25% of the total projects cost; the rest of the project budget is given by 25% non-refundable EU grant and a 50% bank loan. The amount of the EU grant is provided in advance by the bank for the duration of project implementation.
Ignác Siba, Director-General of the EDOP Managing Authority points out that the tenders of the new procedure aim to provide resources for the realisation of enterprise projects that cannot be adequately financed through normal trade bank methods. The NDA wishes to assist increasing the turnover, market share and revenue of enterprises by providing financial background. “In order to encourage investment into development, we do not only wish to provide enterprises with assistance, but other sources necessary for implementation as well,” said the NDA Director-General.
A priority of the Agency is to prepare for the post-2013 programming period in accordance with the goals of the EU 2020 Strategy. The Combined Loan Guarantee launched within the framework of the New Széchenyi Plan was created to serve this purpose, providing assistance for the implementation of enterprise projects by combining non-refundable and refundable sources. All this contributes to the main goal of the Operational Programme, which aims to support the continuous and sustainable development of the Hungarian economy through enhancing the quality of its assets and human resources and its productivity as well. The New Széchenyi Plan Combined Loan Guarantee tenders for micro, small and medium enterprises are available from October through participating banks.
The significance of the call is underlined by the fact that four banks have already joined the procedure: OTP Bank, Hungarian Development Bank, Citibank and K&H Bank. The tender offers enterprises sources on favourable terms, as loans and requests for support can be processed at the participating banks. With faster and simpler administration and more transparent processes, the resources become available within reasonable time and with better credit conditions. ‘OTP Bank is already offering the OTP Combined Loan Guarantee procedure for companies. The bank’s company consultants are available in 22 Retail Bank Centres across the country for companies that wish to apply. We hope that the simplified procedures will help companies get loans and raise their economic performance,’ said László Wolf, Deputy CEO of the Retail Bank Division of OTP Bank.
The terms and conditions for the calls for applications and the conditions of the relevant loans are available through http://ujszechenyiterv.gov.hu.