Gov't Doubles Széchenyi Card Investment Borrowing Threshold
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The government has decided to double borrowing thresholds for corporate investment credit available in the framework of the Széchenyi Card scheme, the Economic Development Ministry said on Tuesday, according to a report by state news wire MTI.
From August 1, the threshold for investment loans under the Széchenyi Investment Credit MAX+ scheme will rise from HUF 500 million to HUF 1 billion, while the threshold for Széchenyi Investment Leasing loans will increase from HUF 200 mln to HUF 400 mln.
The Széchenyi Card Program offers businesses credit at a fixed rate of 5%. Close to 30,000 applications for some HUF 1.2 trillion in credit have been submitted for Széchenyi Card MAX+ credit since the scheme's launch at the start of 2023, and contracts have been signed for half that amount.
Credit outlays in the Széchenyi Card Program and the Gábor Baross Reindustrialization Program are adding around 1.2 percentage point to GDP growth, the ministry said.
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