Széchenyi Kártya – SME Credit Card Program was launched in 2002 to improve the financing opportunities of Hungarian small and medium sized enterprises and by now it has become the symbol of a company’s credibility. Due to the personal guarantee of the proprietors and the complex credit assessment cardholder enterprises have become not only more creditable, but their economic stability and financial strength have also increased.

Prior to the handover of the first Széchenyi Kártya SME Credit Card in 2002 small and medium sized enterprises had limited credit opportunities to finance current assets and temporary liquidity problems.

The uniqueness of the Széchenyi Kártya – SME Credit Card Program lies partly in the unprecedented cooperation of different organizations – the government, credit institutions, trade associations, chamber of commerce, public bodies, partly in establishing an entrepreneur-friendly facilities of banking procedures, which differ from the general routine. An electronic connection has been installed for the participants to maintain the prompt data flow, which enables the entrepreneurs to obtain credits faster as the duration of credit assessment and contracting has shortened dramatically. The terms of application are aligned with the peculiarities and needs of the Hungarian small and medium sized enterprises, and the Hungarian Government provides them with interest subsidy and guarantee premium subsidy in order to reduce their liabilities.

The original Széchenyi Kártya – SME Credit Card Program has been supplemented with different loan products since 2010. Elements of the program may be cumulated and combined to match the different funding requirements.

The most popular facility is the Széchenyi Kártya classic, an overdraft for small and medium sized enterprises which have been in operation for minimum one year. Entrepreneurs can obtain even 25 million HUF overdraft in 3 weeks due to the reduced administration and simplified credit rating.

The Széchenyi Working Capital Loan was introduced in 2010. The main purpose is to finance current assets (stocks, commodities) with a maximum 3-year-term working capital loan subsided by the government. The amount of the loan may range from 1 to 25 million HUF.

The Széchenyi Investment Loan is a long term loan for property purchase and renovation, as well as for financing the purchase of new or used machinery and equipment. The facility requires 20% own funds, the amount of the loan may range from 1 to 50 million HUF, the duration is maximum 10 years and the race period is maximum 2 years.

The Agrarian Széchenyi Credit Card is a unique, 1, 2 or 3-year-term overdraft for agricultural enterprises from 0,5 to 25 million HUF.

The Széchenyi Own Fund Complementary Loan is a special loan to complement the own funds for European Union tenders. The amount may range from 0,5 to 50 million HUF, the duration may be 13 – 120 months.

The Széchenyi Subsidy Pre-financing Loan helps enterprises to come by the obtained EU funds by pre-financing. The available amount of the loan is 0,5 – 50 million HUF, the duration is 1 – 5 years.

More and more credit institutions have joined the distribution of products of Széchenyi Kártya – SME Credit Card Program. Today these credit facilities for small and medium sized enterprises are available at 11 different credit institutions.