The European Commission has authorised under EC Treaty rules on State aid a Hungarian scheme aimed at providing relief to companies encountering financing difficulties as a result of the credit squeeze in the current economic crisis. The scheme allows authorities to grant aid in the form of subsidised guarantees for investment and working capital loans and financial leasing concluded by 31 December 2010 for small or medium sized enterprises up to a total of €2.5 million per beneficiary. The scheme does not apply to firms that were already in difficulty on 1 July 2008.