More than 15,000 applications submitted for Hungary's fixed 3% SME loan

According to the ministry's statement, the fixed 3% SME loan introduced on 6 October plays a key role in boosting entrepreneurial confidence. The favourable financing conditions resulting from the interest subsidy have stimulated loan demand nationwide, supporting businesses' daily operations and enabling them to launch longer-term investments.

The ministry reported that since the standardisation on 6 October:

• more than 15,000 applications have been received;
• totalling HUF 831 billion in value;
• the number of accepted liquidity transactions increased from 1,081 in December 2024 to 2,249 by 15 December 2025, representing a proportional increase of 108%;
• for investment-purpose Széchenyi Investment Loan MAX+ and Agrár Széchenyi Investment Loan MAX+, the accepted volume exceeded the previous year's December data by 32%.

Richárd Szabados, State Secretary for Small and Medium-sized Enterprise Development, emphasised: "The 3% fixed interest rate not only provides financial benefits but also gives predictability to businesses. Current data shows that SMEs are simultaneously strengthening their operational security and launching new investments, which is essential for long-term growth."

Garantiqa Hitelgarancia Zrt. is extending its fee exemption for guarantees behind investment loans until the end of the first full business year, valid until 30 June 2026. The Garantiqa guarantee, which automatically connects to most Széchenyi Card products, has contributed to doubling the number of guarantee requests in recent weeks.

Three weeks ago, Richárd Szabados told Portfolio that the government expected an additional HUF 250 billion in loan demand in the Széchenyi Card Programme this year, and despite the outstanding autumn demand, we are still far from this figure,

so there is no risk of having to close the programme in the short term.

When asked about arbitrage opportunities, the State Secretary said that while the phenomenon exists where businesses invest the borrowed amount, this is permitted and temporarily justifiable for liquidity loans, but it is not a widespread or persistent practice that would cause concern. Operations, personnel costs, and utility expenses are the most common uses for the liquidity loans taken by businesses.

According to Ádám Balog, Vice President of the Hungarian Chamber of Commerce and Industry and Chairman of KAVOSZ, it is common for companies to initially want to use the loan for government securities purchases, but they usually end up finding a better idea for the funds.