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Implementation of a SME credit program/ asset loan program

Country of implementation
Hungary
General short description of the innovation
New Hungary SME Credit Program" Investment loans to SMEs (max. 100 mill HUF, max 10 years) in order to increase labour demand. / The objective of the credit program is to provide micro, small and medium-size enterprises in Hungary with discounted interest credit options offering a maturity period exceeding one year through the combined utilization of co-funding by the European Regional Development Fund (available within the framework of the Economic Development Operational Program 2007-2013) and refinancing resources provided by Hungarian Development Bank (MFB Zrt.). Credit institutions participating in the program are required to allocate refinancing resources for the target group in the form of investment credits of HUF 10-100 million, with a maximum 10 year maturity. The credit program was announced in November 2008 as part of the government¡s package of measures designed to offset the impact of the crisis on financial markets. Some technical modifications have been introduced in the credit conditions in October 2009. / "New Hungary Asset Loan Program"" Working capital credits (max. 200 mill HUF, max. 2 years) in order to increase labour demand. / The objective of the loan program is to bridge financing of SMEs by using working capital credit. It aims at the transitional lack of financial resources necessary for activity expansion conducted by enterprises carrying out producer or service-provider activities. Credit institutions participating in the program are required to allocate refinancing resources for the target group in the form of working capital credits of HUF 1-200 million, with a maturity period exceeding one year. / The measure has been designed and implemented in close and intensive cooperation with professional partners and stakeholders. / Resources necessary for activity expansion conducted by enterprises carrying out producer or service-provider activities. Credit institutions participating in the program are required to allocate refinancing resources for the target group in the form of working capital credits of HUF 1-200 million, with a maturity period exceeding one year. / / / / /
Target group
Total Population
Policy Field
  • general fiscal
Type of Policy
  • public
Duration of the policy
Nov 2008 - Dec 2013, Reference period regarding finance an number of beneficiaries is 1 Nov 2008 - 12 Apr 2010
Scope of innovation
  • Scope: temporary
  • Budgets: 166 million EUR (from 2008 up to 2010)
  • Number of intended beneficiaries: 80
  • Spatial coverage: national
General description of (intended) objectives and strategies
In order to increase labour demand the project ensured the necessary financial service and loans for small, micro and medium size companies removing an obstacle form the way of development. / It aims at the transitional lack of financial resources necessary for activity expansion conducted by enterprises carrying out producer or service-provider activities. /
Nature of the innovation-short-term perspective
short term, crises measure
Type of innovation
  • new policy, practice or measure
New outputs
  • others (loans)
Intended target group
80 micro-, small and medium size enterprises (between 2008 and 2010)
Employers-private institutional actors
enterprises participating in the loan programme
Actors involved in policy-making/implementation and/or evaluation
  • making/implementation and/or evaluation-central state
  • making/implementation and/or evaluation-employees (organised or individual)
  • making/implementation and/or evaluation-private for-profit organisations (commercial)
  • making/implementation and/or evaluation-supra/extra national organisations
Intended output
  • others (loans)
Intended and unintended outcomes
no data available
Clarification of outcomes in terms of impacting resilience and labour market inclusion
Increasing labour demand by enterprise development can enhance resilience and inclusion as well.
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