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Implementation of micro and small credit program

Country of implementation
Hungary
General short description of the innovation
New Hungary Micro- and Small Credit Program" Capital investment loans to micro- and small businesses (max. HUF 10 million, max 10 years). The aim of the program is to develop micro and small enterprises with no or limited access to financial resources provided by commercial banks, in order to increase labour demand. It provides the micro and small enterprises with reimbursable funds with favorable interest rates, and it eases the collateral expectations faced by the SMEs by giving them guarantee. Credit institutions and specialized micro-financing organizations are financial intermediaries following a selection procedure by open tendering. In November 2008 a couple of modifications in the terms and conditions have been introduced as a response to the financial crisis (see easing the credit conditions, broadening the set of potential beneficiaries).
Target group
Total Population
Policy Field
  • general fiscal
Type of Policy
  • public
Duration of the policy
Nov 2008 - Dec 2016
Scope of innovation
  • Scope: structural
  • Budgets: 185 million EUR
  • Number of intended beneficiaries: no data available
  • Spatial coverage: national
General description of (intended) objectives and strategies
The aim of the program is to develop micro and small enterprises with no or limited access to financial resources provided by commercial banks, in order to increase labour demand. It provides the micro and small enterprises with reimbursable funds with favorable interest rates, and it eases the collateral expectations faced by the SMEs by giving them guarantee.
Nature of the innovation-long-term perspective
long term, strenghtening the small enterpriseses and their labour demand
Type of innovation
  • retrenchment or expansion of an existing/earlier policy
New outputs
  • subsidies/tax-credits
Intended target group
micro and small enterprises with growing potential
Employers-private institutional actors
micro and small enterprises
Actors involved in policy-making/implementation and/or evaluation
  • making/implementation and/or evaluation-agency or national social insurance body
  • making/implementation and/or evaluation-central state
  • making/implementation and/or evaluation-supra/extra national organisations
Intended output
  • services
  • subsidies/tax-credits
Intended and unintended outcomes
no data available
Clarification of outcomes in terms of impacting resilience and labour market inclusion
It was an immediate crises measure, job creation via credit programme for those micro and small enterprises which would not have got credit otherwise. / /
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