The interest-free quick resumption loan announced on Thursday could help tens of thousands of small businesses. The essence of the new loan scheme is to provide zero percent loans of up to HUF 10 million for 10 years to small businesses that need financial assistance due to the coronavirus epidemic. Its advantage is that it is not aimed at reducing expenses, retaining employees, but finally providing resources for a restart. For example, in addition to resolving financial situations, it also provides an opportunity for technological developments that can already ensure business in similar situations
This is because digitized SMEs are more resilient to crisis periods. A study was also carried out on how the epidemic affected businesses: as it turned out, those prepared at the technological level adapted more easily.
According to the information published in the Hungarian Gazette, it is a working capital loan scheme that:
- the maximum amount of credit that can be taken out is HUF 10,000,000;
- salary, contribution, overheads, operating costs and inventory
- the annual interest rate to be paid by the customer is 0%,
- the maturity is up to 10 years,
- The debtor will start repaying after a grace period of 3 years after the disbursement of the loan.
The Interest Free The eligible amount of the Restart Quick Loan program has been set at HUF 100 billion, leaving a grace period of three years to start repayment.
It is not known exactly which sectors are affected, the scope of beneficiaries will be determined with some automation, presumably based on activity numbers (tea numbers)
It is worth visiting the Computerworld Exchange, short for CWeX, as it is an interface where businesses can share their solutions to the challenges posed by the epidemic, and this can be done by other companies. they can utilize in their own transformation. Browse the video and text case studies you’ve posted so far, discover the best solutions for your company to survive such crises – and even get out of them more strongly than it did.
The post The interest-free quick start-up loan should be spent on this the most appeared first on World Weekly News.