Extraordinary small loan guarantee

The purpose of the extraordinary proportional small loan guarantee is to enable new financing for enterprises to overcome the temporary difficulties caused by the COVID-19 outbreak. The guarantee enables one to secure the obligations of an enterprise arising from loan and leasing contracts.

Applying for the extraordinary loan guarantee


The undertaking contacts the bank to obtain a loan


The bank makes a decision independently, pursuant to the authorisation granted to the bank


The bank grants the loan to the undertaking

The main terms and conditions

  • The undertaking was not an undertaking in difficulty as of 31.12.2019 or as of applying for the guarantee
  • The rate of guarantee is up to 100% of the guaranteed loan, but no more than 150,000 euros per undertaking
  • The interest rate of the guaranteed loan shall not be higher than the 6-month Euribor + 4% per year and the contract fee shall not be more than EUR 150.
  • The grant for financing costs is 2% of the loan amount for loan contracts with a term of at least 12 months. In the event that the term of the loan contract is shorter than 12 months, the grant will decrease proportionally according to how much shorter than 12 months the loan contract is. The borrower is eligible to receive support for the financing costs arising from the loan agreement, provided that the loan is repaid in full or in part by 30.11.2021, at the latest
  • The estimated ratio between interest-bearing liabilities and EBITDA for the approved annual report for the financial year ended in 2018 or 2019 is lower than 7 based on EBITDA along with the loan being applied for
  • All the required tax returns and annual reports have been duly submitted as of the moment of applying for the loan
  • As of 12 March 2020, the undertaking has no overdue non-deferred arrears to credit institutions or tax arrears of state taxes, or these have been deferred
  • Loans guaranteed with the extraordinary guarantee are limited in total to an amount that does not exceed the amount of double salary expenditure for 2019 of the undertaking along with social tax or 25% of the turnover of the undertaking
  • Refinancing a loan issued by a bank or a lessor is only permitted if the agreement of the loan being refinanced has been entered into after 12.03.2020 and it has a valid KredEx guarantee

Guarantee applications are being accepted until 30.11.2021


Contact your bank to use the extraordinary guarantee

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