PRIMOM Microcredit Division
The Microcredit division has been running the microcredit programme of the Hungarian Business Development Foundation successfully for over ten years. The conditions are as follows.
The aims of the credit:
It can be used for buying machinery, equipment and any other fixed assets or for financing current assets. The credit can not be used for the replacement old equipment with new ones or to meet other expenses like salaries, rents or utility bills.
The amount of credit:
The amount of credit can not excess 24.000 Euro limit (currently 6.000.000 Ft), including the finance of fixed assets.
The repayment term of the credit:
The term can be between 6 months to 5 years depending on the projection of the cash-flow of the business plan.
It is a condition to eligibility. Self contribution can not be less than 20% of the amount of credit.
The validity of the credit
The credit has to be used up within 2 months of its approval, otherwise it is withdrawn. The deadline can only be changed by the Hungarian Enterprise Centre.
Postponement of repayment
Repayment has to start within 6 months. There is no postponement of interest repayment.
Credit can only be given in return for a security that has to be 150% of the credit.
The credit interest is the same as the base interest rate of the National Bank at the time of contract. The interest is fixed for the whole repayment period. The interest has to be paid monthly. For delayed payment a punitive interest rate has to be paid that is in accordance with the Civil Law.
Commissions, fees and charges
The Hungarian Enterprise Centre does not apply any further commissions, fees and charges.
Applying for further credits
A business can only apply for microcredit only three times. For other applications the microcredit can be used as part of the self-contribution .
For further details please contact:
PRIMOM Microcredit Division /4400 Nyíregyháza, Váci M. út 41./
Tel: 42/502-109; Fax: 42/502-172; E-mail: firstname.lastname@example.org
ˇ PRIMOM Counselling and Information Service
ˇ basic information for entrepreneurs (tax, law, legislation etc.)
ˇ general information for entrepreneurs, forums, and international contacts
ˇ business information systems
ˇ design of leaflets and books
ˇ computer data bank service
ˇ management of microcredit applications
ˇ advisory/counselling programmes (RKW small and medium enterprise advisory programme; Credit security programme; START II. Credit)
ˇ infrastructural and technical services
ˇ writing grant applications
Number of Customers from 1992 until 2001: