Our Introduction

Garantiqa Creditguarantee Co. Ltd. (Garantiqa) was founded by the Hungarian State, Hungary’s most significant commercial banks, co-operative savings associations and some enterprise interest group associations in 1992 with the aim of operating as a catalyser in the lending processes of national small- and medium-sized enterprises and organisations established for the accomplishment of employer joint proprietor programs by undertaking absolute guarantee (guarantee).

On the 15th anniversary of the Company’s foundation, on 13th December 2007 the Hungarian Financial Supervisory Authority (PSZÁF) authorized an equivalent level operation to Garantiqa similarly to the operation of loan institutions for the first time among the financial enterprises operating in Hungary. This means and this is the acknowledgment of the fact that the management, inspection, risk management and capital need calculating procedures applied by our Company comply with the same requirements the loan institutions shall comply with.

Our fundamental objective is still fostering the development of the SME sector, and this aim is not only supported by the absolute guarantee undertaking offered for loans, but we also undertake guarantee for any type of fund involvement: bank guarantee, lease and factoring transaction, involvement of venture capital and for European Union tenders.

Also in the last years we had the opportunity to support the borrowing activities and bond issue of local governments and local governmental enterprises by the absolute guarantee offered by our Company.

By the absolute guarantee the Company commits to deliver the payment obligations instead of the debtor (or subsidized party) towards the financial institution (or the disbursing party), if the debtor (or subsidized party) fails to comply with its payment obligation.

The absolute guarantee enables enterprises and local governments with a viable business plan to access funds, who do not have enough collateral to offer, therefore their borrowing or subsidy would be considered far too risky.

In order to symbolize the above changes we have altered our image and our products in the future will be marketed under the Garantiqa brand name.