Hungarian SMEs expended HUF 100 billion interest-free EU credit line in 4 hours
On the official EU tender page, the government announced on 30 November that it would reopen the "Loan Facility B" (working capital product variant), which would provide the Hungarian SME sector with a HUF 100 billion interest-free loan programme from EU funds to finance inventory, wages, utilities and energy for up to five years with a HUF 5-150 million application requirement.
IN THE CURRENT DIFFICULT ECONOMIC CONDITIONS, in A VERY HIGH INTEREST RATE ENVIRONMENT, THIS OFFER IS UNDERSTANDABLY A highly ATTRACTIVE OPTION, AS DEMONSTRATED BY THE FACT THAT THE huf 100 BILLION CREDIT LINE WAS OVERSUBSCRIBED IN LESS THAN four HOURS.
Indeed, after the opening of the tender Thursday morning (8 am), the announcement that the credit line had been oversubscribed was made at 11:45 am. However, according to the rules, the call can only be suspended on the third working day after the notification, so there is still time to submit further applications until 10 am next Tuesday, 13 December.
Cover photo: Getty Images
