MagNetBank

Közösségi bank

Business loans

We offer our business customers the following forint and euro (except for overdraft facilities) based loans.

1. New Széchenyi Loan

Real help for businesses:

  • determination to help finance businesses
  • no hidden costs and foreign exchange rate risk

Micro and small enterprises can apply for loans up to 50 million forints under favourable terms and conditions.

Why is it real help for businesses?

  • because the rate of interest is very favourable: maximum 7.75% p/a without additional costs.
  • because you can make an appointment so that you can avoid long waiting times.
2. Overdraft facilities

Overdraft facilities are credit limits made available in current accounts on the basis of a credit agreement to ensure smooth payments and help manage cashflow shortfalls. Withdrawal and disbursement are automatic within the maturity period. The maturity period is maximum one year.

3. Short-term working capital loan

Working capital funds finance transitional money problems and current asset needs in the form of a revolving credit, too. Disbursement and repayment are arranged on the basis of the customer’s needs as laid down in the contract. The maturity period is maximum one year.

4. Long-term working capital loan

Long-term working capital loans provide financing with a maturity period of more than one year. Disbursement and repayment are arranged on the basis of the customer’s needs as laid down in the contract.

5. Security deposit loan

These loans are short-term (may be long-term as well) loans and are secured by deposits held with the Bank.

6. Loans for investments, developments and projects

These loans finance the costs of investments and developments. The actual loan amount is disbursed when the need arises (the supervision of a technical expert may be required) and repayment is adjusted to the return on the investment and the customer’s financial situation. The maturity period is maximum 15 years.

7. Bank guarantee

We provide bank guarantees upon the customer’s request. MagNet fulfils a written obligation towards a third party as long as the conditions laid down in the bank guarantee letter are met.

When we receive your credit application and all the necessary documents, we carry out a credit assessment on the basis of which we decide on the necessary collateral, which is usually a real estate. The following documents are needed for the assessment of the credit application: Deed of Foundation, signature specimen, the documents of the General Meeting confirming that the registration of any changes is underway, the financial statements or the simplified financial statements of the previous two years (balance sheet, profit & loss account, additional notes to the financial statements) and the respective general ledger extract, the current general ledger extract, a certificate issued by the Hungarian Tax and Customs Administration (NAV) on any public debts of the company, the main supplier and service contracts, loan purpose related documents (preliminary contracts, Memorandum of Understanding, etc.), business plans at least for the period until final maturity (profit & loss account, asset-liability, liquidity position), collateral related documents (title deed, property valuation, certificate of collateral, etc.) and a statement confirming that the collaterals are unencumbered. The loan application, the balance sheet, the general ledger extract need to be duly signed, while the rest of the documents need to be attached in their original form. We will supply you with a copy of such documents if requested.