Internet Based Micro Finance Management System 'Credinfo'

Project information

Index: 1174R4
Priority:1: Innovation and the knowledge economy
Sub Theme:Entrepreneurship and SMEs
Location MAGYARORSZAG DUNANTUL Zalaegerszeg Nyugat-Dunantul Start/End date of the practice
Start: 2009
End: -

Topic of the practice

Support to SMEs

Good Practice Information

Credinfo provides an online application, assessment and credit management facility. Originally set up to accelerate the credit application process, the Internet Based Micro Finance System was developed to provide an online facility for Hungary’s Local Enterprise Agency network helping SMEs to access funds.
The key aims are accelerating the credit application process, helping for profit and
not for profit SMEs to access finance, and to provide a one-stop internet based client application and management solution for any agency managing micro funding schemes for SMEs.
Partners pay a small installation cost for translation services and a monthly fee based on the number of clients supported to use the Credinfo system.

Evidence of success

The average assessment period for loans before Credinfo was 30 days. This has now been reduced with the average time of loan assessment shortened to 1-2 weeks.
Funding Bodies, Client’s Partners’ and Client Businesses now have instant access to up to date management information enabling them to manage the flow of funds.
Several European partners have expressed interest in the programme.

Contact details to obtain further information on the practice

Andras Nagy

Zala County Foundation for Enterprise Promotion (ZMVA

Annex completed on: 03-14-2013

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