Özet:

There are two main ways of financing businesses, equity and debt. Debt financing, including debt financing, is vital for many economic operators and is thus a key to their survival. Businesses can obtain the funds they need quickly and easily from the financial markets, mainly in the form of credit products. However, excessive indebtedness carries a number of risks in the short, medium and long term. For all economic entities, it is crucial to determine their optimal level of indebtedness and their level of credit. The debt financing of companies and businesses is heavily influenced by macroeconomic developments. In all cases, the changes brought about by the crisis, global economic anomalies, rising interest rates and inflation have a negative impact on the exposure of businesses to credit providers. This is particularly true for Hungarian businesses. The prevalence of foreign currency lending before the 2008 downturn and the difficulties that followed the crisis have led many small and medium-sized enterprises and large companies to bankruptcy or to the brink of closure. This crisis has been a very big learning lesson for all economic actors, including the corporate and entrepreneurial sector. Despite the fact that lending standards and conditions have tightened considerably in recent years, there are still many risks associated with debt financing, especially when it is used for operations rather than investment. The aim of this paper is to illustrate the changes in corporate lending from the 2008 crisis and the coronavirus crisis to the present day, using the example of the Hungarian business sector. The study will also shed light on the changes in lending and the change in the attitudes of firms, which will provide a measure of the level of corporate financial culture and its manifestation in financial decisions.

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