Joint and several guarantee by Garantiqa

 

Garantiqa Hitelgarancia Zrt. assists small and medium enterprises in accessing credit through joint and several guarantees and bolsters the collateral background of small and medium enterprises (according to the definition specified in Act XXXIV of 2004) in the interest of improving their operations, increasing their competitiveness, promoting their development and supporting their compliance with the requirements of the European Union.

The joint and several guarantee by Garantiqa Hitelgarancia Zrt. enables financial institutions - like UniCredit Bank Hungary Zrt. - to provide short or long term loans, bank guarantee facilities, and short term factoring and financial leasing services to viable enterprises that, without the guarantee of Garantiqa Hitelgarancia Zrt., could not otherwise avail of such services or would only be able to do so under less favourable conditions.

 

Why is Garantiqa Hitelgarancia Zrt.’s guarantee advantageous?

  • You can access credit with less collateral.
  • Garantiqa Hitelgarancia Zrt. undertakes guarantees of nearly every type of credit transaction.
  • The flexible assessment deadlines create a favourable opportunity for you to easily and quickly access credit.
  • Undertakes guarantees of HUF transactions and transactions of any other currency.

To whom do we recommend Garantiqa Hitelgarancia Zrt.’s guarantee?

To companies qualified as small and medium sized-enterprises according to Act XXXIV of 2004 and registered in Hungary which

  • certifiably have no overdue public debt (tax, customs and social security) at the time of applying for the guarantee,
  • have no debt to Garantiqa Hitelgarancia Zrt. or any other guarantor institution, financial institution, or debt related to a central budget guarantee, or credit institution bank guarantee,
  • according to the Central Credit Information System, have no overdue credit debts or debts settled after the deadline,
  • do not have and have not had qualified credit transactions at the bank in the last 2 years,
  • neither are offshore enterprises nor have direct owners qualified as offshore enterprises,
  • do not qualify as companies in a difficult financial position in case of applying for guarantee under the block exemption rules,
  • provide other collaterals for the loan transaction in addition to Garantiqa’s guarantee,
  • fulfil the terms of Garantiqa Hitelgarancia Zrt.’s Business Regulations.

Features of Garantiqa Hitelgarancia Zrt.’s guarantee

  • The guaranteeable credit types: current account overdraft, operating loan, investment loan, bank guarantee, bank guarantee line, multi-purpose credit line, maximum 1 year factoring and financial leasing transactions.
  • The maximum rate of Garantiqa Hitelgarancia Zrt.’s guarantee is 80%.
  • Garantiqa Hitelgarancia Zrt.’s guarantee is supported guarantee behind which stands a 85% state counter guarantee or a 100% New Széchenyi Counter Guarantee.
  • Garantiqa provides supported guarantees in de minimis, agrarian de minimis, or block exemption support categories, therefore the requirements regarding aid restrictions must be observed.
  • In addition to the guarantee by Garantiqa, other collateral is required for the loan transaction (e.g., owner joint and several guarantee, surety, mortgage, etc.).

Documents necessary for guarantee application

  • Guarantee application signed by the credit applicant, furthermore, the documents and declarations required by Garantiqa .
  • Documentation required by the bank for the credit assessment.

Apply

 

For further information about Garantiqa Hitelgarancia Zrt.’s services, business regulation and tariffs, please visit their website at www.garantiqa.hu.

If you have any questions, please feel free to ask your contact person at the bank, or our colleagues at one of our many bank branches.

 

This information should not be considered an offer. The Bank reserves the right to change the conditions. UniCredit Bank reserves the right to make decisions on an individual basis regarding loan disbursement/issuance of bank guarantee and on the amount and conditions thereof, based on the loan/bank guarantee application and documents submitted.