Hungarian government announces looser stipulations for conditional SME funding
The Hungarian government is easing stipulations on business growth for SMEs that are awarded conditional funding in some European Union programmes, Richárd Szabados, the state secretary for SMEs, said at a press conference on Wednesday.
Businesses awarded the conditional funding will have two years, instead of one, to meet the revenue growth thresholds for the funding to become entirely non-refundable, Szabados said. The revenue growth thresholds, relative to GDP growth, will also be lowered, he added.
The measures will affect around 3,000 microbusinesses and SMEs that have been awarded close to HUF 350bn in funding.
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