Garantiqa COSME guarantee

•   You need less collateral to get the loan.
•   The rate of Garantiqa COSME guarantee is fixed 85 or 90 % depending on the type and amount of the risk assumption.
•   The tenor of the loan has to be at least one year and the maximum tenor is 5 years or 9 years depending on the loan type.

To companies qualified as small and medium sized-enterprises and registered in Hungary which

•   used up their de minimis subsidy limit earlier,
•   certifiably have no overdue public debt,
•   have no debt to Garantiqa Hitelgarancia Zrt. or any other guarantor institution, financial institution, or debt related to a   central budget  arising from redeemed state guarantee, or  redeemed bank guarantee,
•   have no overdue credit debts or debts settled after the deadline according to the Central Credit Information System,
•   do not have and have not had qualified credit transactions at the bank in the last 2 years,
•   fulfil the terms of Garantiqa Hitelgarancia Zrt.’s Business Regulations.

•   You can use COSME guarantee only for deals denominated in Hungarian forint. The amount of the guaranteed deal has to be at least 250 million Hungarian forint in case of overdrafts, and at least 46 million Hungarian forint in case of working capital loans, investment loans and bank guarantees or bank guarantee lines.
  
•  The COSME guarantee is available for new loan contracts concluded with SME clients after 16^th October 2017 but not later than on 1^th October 2020.
•   The COSME guarantee is available for overdrafts, for non-revolving working capital loans, individual bank guarantees and bank guarantee lines with 1-5 year term and for investment loans with 1-9 year term. Revolving working capital loans cannot be guaranteed by COSME guarantee.
•   The rate of the guarantee is fixed 85% or fixed 90% depending on the type and amount of the risk assumption. Behind the COSME guarantee stands 50% counter-guarantee of the European Investment Fund and 50% own risk taking of Garantiqa.§  The guarantee fee is between 0.7% és 1.2% p.a. calculated on the guaranteed amount and it depends on the type of the loan, the detailed list of guarantee fees is included in the currently effective Announcement of Garantiqa.
•    The guaranteed deal can be collateralised –  further to the Garantiqa guarantee – by only mortgage or pledge, security deposit, suretyship provided by the private owner of the debtor (in case of individual company the suretyship from the member of the individual company is required but in case of individual entrepreneur the suretyship from the individual entrepreneur as a natural person is not) or intragroup corporate guarantee to the following extent:
•   in case of overdraft the collateral value must not exceed 40%,
•   in case of working capital and individual bank guarantee/bank guarantee lines

-       up to 250 million Hungarian forint loan amount the maximum value of the collateral ratio has to be 20% if no private person surety or intragroup corporate guaranteeor is involved, if there is also a private surety or intragroup corporate guarantee among the collaterals, other collateral cannot be involved;

-       if the loan amount is more than 250 million Hungarian forint the collateral ratio can be maximum 40%,

•   in case of investment loan the maximum value of the collateral ratio cannot be higher than 20% not calculating with the mortgage established on the object of the investment in the calculation with the exception of start-up enterprises where there is no requirement regarding the collateral ratio.
  

•   Client declaration to COSME Guarantee signed by the credit applicant.
•   Documentation required by the bank for the credit assessment.