The details of the government’s financial rescue package – What can Hungarian businesses expect?

2020.04.30. 18:52

In this video, Roland Kiss (CEO of Hitelpont) summarizes the government’s financial rescue package. Keep on reading this article to get a better understanding of the main points of these measures.


MFB Crisis Loan

Business Mortgage

MFB Business Financing Investment Loan

MFB Business Financing Working Capital Loan


Changes in the loan system caused by the crisis

There have been numerous unprecedented changes in the business environment since March 2020. The economic constraints and the crisis caused by the pandemic are major threats to the safety of businesses and jobs. In order to reduce the negative effects on the economy, the Hungarian government created a financial rescue package, the main objective was to help the economy recover as soon as possible, to protect jobs and to create financial stability in Hungary.


Types of the economic measures

The government’s measures can be divided into 2 major groups. The elements of the first group serve the purpose of alleviating companies’ financial problems, whereas the measures of the second category provide financial support for companies if needed.

Measures that help companies alleviate financial burdens include:

  • tax deferrals
  • contribution benefits
  • wage subsidies
  • waive payment of common charges
  • suspension of capital and interest repayments
  • temporary suspension of enforcement

Measures that help companies get financing include:

  • subsidized loans
  • guarantee schemes
  • capital schemes
  • employer loans

The main aim of all measures is to strengthen Hungary’s financial position and to get domestic businesses and the economy back to the path of rapid and dynamic growth the soonest possible. We highlighted some of the most important measures below, focusing on those that affect Hungarian businesses during the crisis.

The government helps domestic businesses with a simplified loan application process, favourable interest rates and state guarantee schemes during the times of the crisis. (Source: Skitterphoto, Pexels)

Measures that facilitate access to financing

Loans available within the government’s financial package

The government’s loan programs provide businesses with resources that have many advantages compared to the other loan products available on the market. These loans ensure that all domestic businesses can access a loan scheme that fits their needs the most with very favourable interest rates and longer terms. When determining the maximum loan amount, financiers typically consider two main factors:

  • the financial and operating results and revenues of the business, as well as the profitability indicators, and/or
  • collaterals and other sureties

It is important to note that in addition to the conditions of the government’s programs, the financier may have stricter collateral requirements!

MFB Crisis Loan

The MFB Crisis Loan is possibly one of the best available solutions for micro- and small-sized businesses. This loan scheme is available through financial companies such as Hitelpont, who provide a unique professional assessment for each loan application. With the simplified loan application process, applicants can receive financing in as little as 2 weeks, however, creditors typically require real estate collateral from the client.

The MFB Crisis Loan is available with a fixed annual interest rate of 2,5% with a state interest subsidy. The total loan amount has also been increased, the loan amount now ranges from 1 to 150 million HUF, thus making it suitable for even more companies. With a wide range of loan objectives, the loan is applicable for general investments, working capital financing and liquidity financing, as well as for loan redemptions. The term of the working capital loan can be up to 3 years, whereas in case of other loan purposes, the loan term can be up to 10 years.

In all cases, the MFB Crisis Loan is supplemented by an 80% state guarantee, thus companies that fall into a high-risk category based on banks’ ratings can also obtain funding. Another significant change caused by the crisis is the accelerated credit assessment process, making quick decisions has now become key. At Hitelpont, we also simplified our processes, loan applications can now be initiated online.


MFB Competitiveness Loan

The MFB Competitiveness Loan has been created for larger companies, but those medium-sized businesses that plan to do major investments in the near future can also find it interesting. In addition to increasing the company’s competitiveness, it is also possible to use this loan scheme to expand the business’s capacity. Within this program, the loan purpose may be investment, working capital financing, loan redemption, acquisition, or liquidity financing. The MFB Competitiveness Loan can be applied for through commercial banks and directly at MFB as well, the loan amount can be up to 10 billion HUF per client, with a maximum term of 15 years. The loan amount can be backed by an 80% state guarantee.


The MNB NHP Hajrá loan scheme enables small and medium-sized companies to overcome economic difficulties or to implement developments during the crisis. The maximum loan term has been increased to 20 years. With a wide range of loan objectives, the amount can be used for investment, working capital acquisition or loan redemption, but the loan purpose must be defined before the submission of the loan application.


The measures of the financial rescue package support the survival of domestic SMEs, their economic growth, as well as the retention of jobs. (Source: klimkin, Pixabay)

Guarantee schemes

Guarantee schemes help SMEs to recover from the difficulties of the crisis. The main aim of these schemes is to bridge the gap between financiers’ collateral requirements and the collaterals accessible for the loan applicant.

MFB Crisis Guarantee Program

The latest guarantee scheme of the MFB Group (not to be confused with the very favourable guarantee program related to the MFB Crisis Loan, the annual fee of which is only 0,1%), with a total amount of 500 billion HUF, managed by Garantiqua Zrt. Within this framework, up to 90% of state guarantee can be used for overdrafts, working capital and investment loans. One of the most interesting features of the program is that it is available with a significant fee reduction of 1,0% per year, the guarantee provided to one debtor can reach up to 5 billion HUF.

MFB Vis Maior Guarantee Program

The MFB’s Vis Maior Guarantee Program is suitable for corporate loans with a term of over a year, it provides guarantees for loans of 5 billion HUF or above. The highest available amount per client is 10 billion HUF, and the main goal is to encourage bigger corporations to make larger investments or to finance working capital. The loan term can be up to 6 years, and the guarantee fee is ranging from 0.25 to 2% per year.


Through the National Crisis Management Fund, the Hungarian government also undertakes to participate in the funding of SMEs as an investor. As part of the package, the MFB Group will be able to support tens of thousands of SMEs through four new capital programs. All four of these capital programs serve different purposes:

  • SME Rescue Capital Program: can be a lifeline for the lower-income SMEs facing difficulties
  • Start-up Rescue Capital Program: can support successful tech start-ups that are stuck because of the ongoing crisis
  • Crisis Capital Program I-II.: provides support to strategic companies, helps them with business and real estate acquisitions both domestically and abroad, as well as providing capital financing to restart the economy

Certain capital schemes also allow SMEs to buy out the ownership within a maximum of 5 years. Businesses that export products or services are particularly supported, as their rescue is especially beneficial to the Hungarian economy.


The available loan products can provide a solution for the financial difficulties of domestic SMEs, the loan application process is quick and easy, and it can also be initiated online. (Source: John Schnobrich, Unsplash)

Tax deferrals and contribution reductions

The government is striving to alleviate the financial difficulties of businesses through a number of other measures. Not only it is supporting the domestic economy by providing preferential crisis loans, but it has also taken action to leave more money in the pockets of businesses.

In many cases, tax cuts and targeted support contribute to job retention, thus protecting the survival of domestic companies. The payment of other types of taxes has been temporarily suspended, the companies operating in vulnerable sectors are exempt from paying the employer’s contribution from March to June. In addition, the employer can be exempted from paying public charges, these changes benefit both the employers and the employees. Entrepreneurs have been deferred to pay their KATA debts, thus they are more likely to survive this critical period.

From the first of July, the rate of the social contribution tax will also be reduced, a total of 160 billion HUF will remain at companies in the next six months due to the two-percentage-point discount. The small business tax rate will decrease by one percentage points from the 1st of January 2021, which will provide SMEs with another 10 billion HUF. In addition, the deadline for submitting the financial report will be extended until the 30th September for almost 600,000 companies, the deadlines for the payment of corporate tax and local business tax will also be postponed until that date.

Other discounts

Apart from providing financial assistance, it is important to create the right conditions, as only a well-functioning system can serve as a good base for the new measures. Multiple administrative processes have been simplified over the course of the past weeks, for example, the submission of loan applications will be remarkably easier among other administrative processes.


In case you are interested in any of our loan schemes, you can obtain more information by clicking on the Our Products button. On the bottom of all the loan product pages, you can find the loan calculator, which can be used to calculate the expected repayment instalments. The loan application process can be initiated online, it is also possible to request a callback from one of our colleagues. Should you have any other questions or be interested in a loan product available at Hitelpont, please call our customer service directly at +36-1-239-8638 or reach out to us at one of our Contact details.



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