Earlier news

Garantiqa Hitelgarancia Zrt. is now also providing guarantees to long-term loans of condominia and housing communities. By using the new product of the company, the condominia can reach development loans with more beneficial conditions, for example in the case of energy-saving investments. Garantiqa can undertake a guarantee for maximum 80% of the loan amount (plus interest).

In future, Garantiqa Hitelgarancia Zrt can give a bigger guarantees (up to 90%) compared to what was previously possible, after the EU has approved the initiative of the company regarding the givable state aid to small and medium size enterprises.

In 2008, the surety guarantees of Garantiqa Hitelgarancia Zrt. helped companies to take up loans in a total value of 463 billion HUF - according to last year's preliminary data. Despite the difficult financial situation, the amount of guarantees has grown by 23% during 2008, compared to 2007. The total guarantee portfolio of the organisation exceeds 400 billion HUF. This year, Garantiqa can make it possible for SMEs to take up loans in a total value of 1200-1300 billion HUF with the effective use of the 900 billion HUF guarantee limit (raised to this level by the government).

Garantiqa Hitelgarancia Zrt. (Garantiqa), The Hungarian Chamber of Commerce and Industry (MKIK) and KA-VOSZ Zrt (founded by MKIK and The National Organisation of Entrepreneurs and Employers - VOSZ) are starting up a one-stop-shop complex financial service for micro-, small- and medium size enterprises by the name of Fund Union Program. This was announced by the involved organisations at a press conference held together with Finance Minister János Veres.

Garantiqa Hitelgarancia Zrt. has now also joined the global Good CSR 2008 program (CSR - Corporate Social Responsibility), initiated in 2008 by Braun & Partners Network, supported by international partners. This collaboration provides a possibility for the 25 joined companies to inform their partners in a short sustainability report about their social and environmental accomplishments, thereby supporting and spreading the good practises of responsible business operation.

Garantiqa Creditguarantee Co. Ltd. in cooperation with the Hungarian Chess Alliance and the most experienced domestic financial institutions in municipal financing holds a two-day conference in 2008 October with the title of 'Garantiqa Mayors' Day 2008.'

Beni Gyöngyi has been appointed as a communication leader of Garantiqa Hitelgarancia Zrt. effective 1 July 2008. The communication specialist with many years of managing experiences worked in Magyar Hitel Bank (Hungarian Credit Bank), OTP Bank and motorway construction companies.

Interview with Zsombor Essősy, the CEO of Hungarian Grant Agency

The home entrepreneurs'' " tender writing spirit" and willingness to invest are quite positive, but the proceeding, the illogical calling for tender in same cases and the paucity of funds makes their position so difficult - says Zsombor Essősy, the CEO of Hungarian Grant Agency.

After implementing a new strategy the Garantiqa Creditguarantee Co. Ltd., functioning under a new company name and a brand new image, is intend to reform its client relation and external communication. The most up-to-date initiation of the company was a professional day organised for credit intermediaries. In the program such companies have been represented, whose intermediary role may get more professional and can be strengthened with different services offered by Garantiqa.

The situation of municipalities facing financial difficulties has been in focus since the 90s. Many studies and articles have been published, moreover several conference or professional days have been organised in connection with the topic which confirm this struggle. Recently the IGE Tanácsadó Kft. specialised for local authority development and financing has organised a conference under the title of "2008: the year of bankruptcy?" with the participation of professionals affected.