MFB will launch a new loan program called the No-Interest Rapid Restart Loan for companies operating in the sectors most affected by the pandemic, following a government decision. The loan will be available to businesses at zero interest rates in the network of MFB points set up to broker EU funds. The purpose of the loan is to provide fast and effective assistance to companies operating in crisis sectors, MFB tells our editorial office.
The loan amount can be up to a maximum of 10 million HUF, and it can be applied for by companies with a 10-year term and a 3-year grace period, meaning that the debtor will only start repaying it after a 3-year grace period.
The program can be used to finance wages, contributions, overheads, operating expenses, and inventory, meaning it can cover companies’ operating expenses that have resulted in a significant decrease in or lost revenue in the recent period. In addition to addressing liquidity concerns, the program will help prepare for the period when the pandemic situation allows security restrictions to be eased. The annual interest rate that the loan customer pays over the entire term is 0 percent.
Details of the program will be worked out in the coming weeks by the MFB, which aims to make the opportunity available as soon as possible.
The Development Bank aims to launch a loan program that is available quickly and on a large scale, and disburses the required funds for companies in the shortest possible time. The loan program is available to companies operating in the sectors most affected by the economic impacts of the epidemic.