Subsidised microloan

WHAT DOES SUBSIDISED LOAN MEAN?

It means that the product has a lower interest rate than other loans available on the market. The assistance content of a loan is the decrease in interest payment by the client compared to market reference interest rates.

WHAT IS THE CATEGORY OF THIS ASSISTANCE?

The category of this assistance is of a minor amount (de minimis). The loan may only be provided pursuant to Regulation (EU) 1407/2013 on the Application of Articles 87 and 88 of the EC Agreement for de minimis assistance.

WHEN CAN DE MINIMIS ASSISTANCE BE PROVIDED?

De minimis assistance can only be provided if the assistance content of assistance granted as de minimis assistance to a company from any source – in the year of submitting the loan application and the two financial years immediately preceding that – does not exceed the HUF equivalent of 200,000 EUR or, in the case of the road freight sector, 100,000 EUR.

HOW CAN I DETERMINE IF I AM ELIGIBLE?

The easiest way is to contact our colleagues. In most cases, determining titles for assistance and eligibility require a check of only a few minutes, but in some cases a legal expert may need to be consulted. Our experts will relieve you of this burden.

WHICH ARE THE GROUNDS FOR EXCLUSION?

Assistance may not be provided to the following companies or for the following purposes:

(a) companies of the fishing and aquaculture sectors;

(b) companies performing activities related to the primary production of the agricultural products listed in Annex I of the Agreement (Annex I. – clickable hyperlink!!);

(c) companies performing activities related to the processing or marketing of the agricultural products listed in Annex I of the Agreement, provided that the amount of assistance is determined based on the price or quantity of such products acquired or sold on the market or is dependent on partial or total transfer to the primary producers;

(d) companies, from whose net revenue for the last closed, complete business year (or in case of sole traders their income included in the taxable base of the company) agricultural activities make up more than 50% (TEÁOR ’08 codes: 01.11 – 03.22);

(e) supporting export-related activities, namely assistance related to exported quantities, establishing and operating a sales network, and other current expenses directly connected to the export activity;

(f) assistance dependent on the use of domestic products instead of imported ones;

(g) companies in industries related to coal production (coal: coal classified as excellent, medium, or low-quality (A and B groups) according to the international codification system established for coal by the European Economic Committee of the United Nations);

(h) for purchasing transport vehicles in the case of companies of the road freight sector;

(h) for companies in difficult situations [Section 6 (1) of Government Decree No 37/2011 Korm.].

WILL I RECEIVE A CERTIFICATE ON THE AMOUNT OF ASSISTANCE?

The certificate of assistance on the content and category of assistance provided to the beneficiary (subscriber) will be issued by Magyar Vállalkozásfinanszírozási Zrt. (Hungarian Business Financing Plc.).

Business mortgage