Bank Austria increases number of small loans for businesses
- Total volume grew by 78 per cent to EUR 47.6 million in 2010
- One-tenth of these loans are for less than EUR 55,000
Bank Austria's "Subsidised Loan Initiative" for 2010 met with extremely strong demand from Austria's small and medium-sized enterprises (SMEs). As a result, the volume of subsidised loans saw a massive increase of 78 per cent last year, rising to roughly EUR 47.6 million. This corresponds to an 85 per cent increase in the number of contracts.
One-fifth of the loans were for a maximum amount of EUR 100,000, while one-tenth were for less than EUR 55,000. The twelve SME Info Days held all over Austria in 2010 were also very popular and played host to over 1,200 qualified advisory sessions with people interested in subsidised financing.
According to Rainer Hauser, the Management Board member responsible for Family & SME Banking at Bank Austria, "Small and medium-sized enterprises are without a doubt the heart of the Austrian economy. They represent the country's innovative strength and they create valuable jobs with their ideas. Which is why I am extremely pleased that we were able to make significant gains in this customer segment and facilitate important business investments with our subsidised financing advisory."
Enquiries: Bank Austria Press Office Austria
Julia Wegenstein, tel. +43 (0) 50505 - 52854
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