Széchenyi Own Funds Supplement Loan
Use a Széchenyi Own Funds Supplement Loan to finance the aid necessary for EU support and fund the portion above your own financial resources in a project. If you apply for EU support for any development or investment in your company and need financing for your own funds then our favourable, state-subsidised loan has been designed for you.
Who is the Széchenyi Own Funds Supplement Loan for?
Sole entrepreneurs, single person companies, corporate enterprises and cooperatives, as defined in the Act on small and medium-sized enterprises (currently Act XXXIV of 2004), providing that they satisfy the terms and conditions of the loan.
Why is a Széchenyi Own Funds Supplement Loan advantageous for your business?
- You can finance the funding required in addition to your own funds demanded by the EU and the support actually gained with a favourable, state-subsidised loan.
- The purpose of the investment project is not defined specifically; the objective must be in line with the objectives of specific calls for tender. Current asset purchases made in the project may also be charged to the loan, up to 20% of the loan amount, when permitted under the given support scheme.
- The loan may also be used to finance VAT if your business is not eligible for reclaiming VAT and VAT financing is permitted under the support scheme.
- An unconditional guarantee from Garantiqa Hitelgarancia Zrt. secures the loan and the state subsidies available for the guarantee fee.
What are the main features of the Széchenyi Own Funds Supplement Loan?
- Loan amount: minimum HUF 500,000 and maximum HUF 50 million, in increments of HUF 100,0001, only in forint.
- Term: minimum 13 months and maximum 120 months.
- Commitment period: maximum 18 months.
- Interest rate: 1-month BUBOR + 4.5%.
- The state subsidy is 5% for the transaction interest and 0.65% for the Garantiqa Hitelgarancia Zrt. guarantee fee, which is 1.3% p.a.
- Own Funds: the applicant must have its own funds equivalent to at least 20% of the planned cost of the project (gross or net, depending on whether the gross or net costs should be taken into account in the submitted project and in the financing), free of any loan or leasing, in order to be able to apply for the loan. In addition, the applicant must also have own funds in the amount stated in the call for applications in the given support scheme.
- Grace Period: at least the same as the commitment period, a minimum 2 and no more than 24 months.
- Repayment: repayment may be made in calendar quarters and on a monthly basis. Repayment of the principal is a straight line repayment.
- Management fee: 0.8% p.a, to be calculated as interest.
- Disbursement fee: fixed HUF 15,000 per drawdown.
- Contracting fee: one off 1%
- Loan approval fee: one off 0.5%
- The main collateral of the loan is the subject matter of your project, but further moveable property or real property may also be offered to the bank.
- One of the mandatory items of collateral related to the product is an 80% unconditional guarantee from Garantiqua Hitelgarancia Zrt. calculated as 80% of the debt (principal amount, interest and commissions payable as interest).
Please contact our staff at the UniCredit branches for personal credit advice. Our advisors will inform you on the currently effective terms and conditions and the requirements to apply.
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What else might you need to manage your finances?
Are you looking for an account package for your business?
If you open a new HUF current account for the products of the Széchenyi Card Program, within the framework of our promotion, valid until withdrawal, we shall waive
- the account opening fee and
- the monthly fee for the first 3 months.
Select the account package that best matches the needs of your business!
Have you got already EU support and you would start the investment? Széchenyi Support Bridging Loan
Free disposal over your bank account using any of the following electronic channels: Phone Banking or Internet Banking. Further details
This information does not constitute a contractual offer. The detailed conditions are included in the Bank's currently effective 'List of Conditions of the Széchenyi Card Program for Small Business Clients’. The other terms are specified in the individual contracts and in the Bank's General Terms of Business. The Bank reserves the right to amend the conditions and to grant a loan based on application subject to its own approval process.
1 If a client has any product falling within the scope of the Széchenyi Card Program that is active or is being assessed simultaneously, their total contracted and requested amount, including the application in progress, may not exceed HUF 150 million or, for products guaranteed by Garantiqa (Széchenyi Card overdraft, Széchenyi working capital loan, Széchenyi Investment loan and Széchenyi Own Funds Supplement loan), HUF 100 million. If a client uses a Széchenyi Support Bridging Loan and a Széchenyi Own Funds Supplement Loan simultaneously, the total amount of debt from two products may not exceed HUF 50 million.