The government has launched the NHP Hajrá loan scheme, the first loan product of the financial rescue package

2020.04.22. 07:25

To alleviate the economic impact of COVID-19, the government has launched a new loan program. The Hungarian National Bank’s Growth Loan Program (MFB NHP Hajrá) scheme provides loans for micro, small and medium-sized companies on very favourable terms, thus helping them in the tough times caused by the coronavirus. The loan term can be up to 20 years, with a wide range of loan objectives it can be one of the most significant sources for companies facing financial difficulties.

The NHP loan has been on the market since 2013, in the past 7 years it provided funding to nearly 50 thousand businesses, the latest NHP Hajrá scheme incorporates some of the most favourable conditions of the loan program. The main goal is to maintain and strengthen Hungary’s economic competitiveness and performance.

In the following article we present the features of the loan product and review the cases in which NHP Hajrá can be applied for.



MFB Crisis Loan

MFB Business Financing Investment Loan

MFB Business Financing Working Capital Loan

Business Mortgage


The primary goal of the latest MNB NHP Hajrá program was to retain jobs and ensure the liquidity of domestic businesses. (Source: Campaign Creators, Unsplash)


The new MNB NHP Hajrá loan

NHP Hajrá is a loan refinanced by the central bank, it can be applied for through financial institutions, the main aims are to retain jobs and maintain production capacities as well as to ensure companies’ liquidity through supporting domestic SMEs. A total of 1 500 billion HUF is available for banks and financial companies, of which 1 000 billion HUF is newly sourced, and 500 billion is added from the NHP Fix loan’s funds. One of the main advantages of the NHP Hajrá loan is the fixed annual interest rate of 2.5%, which will remain unchanged until the end of the term, thus supporting the domestic SME sector. Another important feature is its wide range of loan objectives, which will be discussed more in detail below.

Terms of application

Micro, small and medium-sized SMEs may apply for the loan if they:

  • have at least one closed business year behind their back (1.Jan. – 31.Dec.), and
  • their registered office is located in Hungary
  • the SME has positive equity, and
  • is profitable.

A business is to be considered an SME if the number of employees does not exceed 250, and its net annual revenue is not more than 50 million EUR, or its balance sheet amount is less than 43 million EUR.

Altogether, only a few basic conditions need to be met in order to be able to apply for a loan within the NHP Hajrá scheme. However, there are some exceptions, such as a company with a state or government ownership of more than 25%. Those companies that have changed more than 50% in terms of ownership in the past 6 months cannot be eligible for the loan either. Businesses with an ongoing NAV investigation, previous unpaid bank loans, or a negative KHR/BAR status are also subject to exclusion.


The loan term of the NHP Hajrá scheme now can be up to 20 years, instead of 10. The extended term enables companies to finance larger investments that can take a longer while to become lucrative. In practice, this option only applies to real estate investments and developments, as the program also specifies that the amortization period of the financed assets may not exceed the loan term. The minimum loan term is one year thus it might as well provide short-term liquidity financing for businesses. It is also important to emphasize that in the case of working capital financing, the loan term can be up to 3 years.

In order to be able to provide funds to smaller-sized companies, the lower limit of the loan has been reduced to 1 million HUF, while SMEs can theoretically apply for a maximum of 20 billion within the framework of the program – this serves the stability of larger companies.

To speed up the loan application process, the credit assessment time has also been significantly reduced. The accelerated procedure promises to complete the credit assessment within 10 business days from receiving the complete loan documentation. The loan amounts can be claimed within 3 years following the signage of the contract.

The purchase of real estate is only possible if the company’s main activity is to provide accommodation services. (Source: Tierra Mallorca, Unsplash)

Loan objectives

The NHP Hajrá loan can be widely used in the following areas depending on the activity of the applicant company:

  • Purchase of real estate, development and renovation
    • The purchase or development of a residential property, a holiday resort or a hotel is possible only if the company’s main activity is to provide accommodation services. In case of a commercial real estate it can only be used for business purposes, it cannot be financed through the NHP Hajrá loan if it was meant to be for rent or resold in the future.
  • Purchase or renovation of tangible assets and equipment
    • This includes the acquisition or renovation of new or used tangible assets that directly serve business purposes.
  • Purchase of vehicle
    • This can happen in the form of leasing or lending, but only if the company’s main business activity is passenger transport from at least the 1st of January 2020.
  • Purchase of used or new commercial vehicles
  • Loan redemption
    • Loan redemption is possible for those loans that have been taken out prior to 1. January 2020, if they have less favourable conditions and the loan objective matches the ones acceptable within the NHP Hajrá’s framework. The loan term cannot exceed the maximum term, which is 20 years.
  • Working capital financing
    • The loan objective does not need to be specified in this case, it can be used to cover trade receivables, inventory financing as well as the payment of wages, the main goal is to retain jobs, maintain production capacities and to provide liquidity to the company. The working capital loan can therefore be primarily used to cover operating costs.
  • Financing company acquisitions

Collaterals and other costs

There is no regulation regarding the collaterals required for the loan application within the MNB NHP Hajrá program. Thus, the conditions may vary at every financial institution, it is worthwhile to check with several financial companies and banks before choosing one of them. In addition, the lending institution might pass on additional charges to the SME, although passing on the brokerage fee or commission is not permitted.

Information regarding the loan application

The latest NHP Hajrá scheme is now available at certain financial institutions. The loan application process can be initiated online, it is important to note that the loan amount may also vary at different financial institutions, so it is useful to get familiar with the terms and conditions of the loan institution.


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.