The SME Financing Guarantee Scheme (“Scheme”) was launched on 1 January 2011 by The Hong Kong Mortgage Corporation Limited (“nhanluchungvuong.edu.vn”). Since 1 May 2018, the Scheme business has been transferred to và carried on by nhanluchungvuong.edu.vn Insurance Limited (“nhanluchungvuong.edu.vnI”), a wholly-owned subsidiary of the nhanluchungvuong.edu.vn.
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Objective và Guarantee Coverage
The Scheme aims at helping local small & medium-sized enterprises (“SMEs”) & non-listed enterprises (collectively, “Enterprises”)to obtain financing from participating lenders (“Lenders”)for meeting their business needs so as khổng lồ enhance their productivity và nhanluchungvuong.edu.vnpetitiveness in the rapidly changing business environment. Under the Scheme, the nhanluchungvuong.edu.vnI may provide guarantee coverage of 50%, 60% or 70% to the credit facilities of eligible Enterprises approved by the Lenders.
Award
Honoured with the Best SME’s Partner Award by The Hong Kong General Chamber of Small & Medium Business foreleven consecutive years since 2012.
Special Concessionary Measures
80% Guarantee Coverage under the Scheme (“80% Guarantee Product”)
To help tide the Enterprises over financing difficulties as a result of a possible credit crunch in midst of the uncertain global economic environment, the Financial Secretary announced in the 2012-13 Budget Speech a series of measures to support the Enterprises, including the introduction of the time-limited Special Concessionary Measures under the Scheme which provides 80% guarantee coverage to credit facilities of eligible Enterprises approved bythe Lendersat concessionary guarantee fee rates.
The 80% Guarantee product has provided strong tư vấn for the Enterprises in obtaining financing in the nhanluchungvuong.edu.vnmercial lending market since its launch on 31 May 2012 & benefited an increasing number of enterprises. Lớn further alleviate the financial burden of the Enterprises và assistthem to obtain financing from the Lenders,the Government has implemented enhancements for qualifying guarantees under the 80% Guarantee sản phẩm from time to time since its launch.
The application period for the 80% Guarantee product is until 30 June 2023.
Please refer khổng lồ the SME Financing Guarantee Scheme Factsheet for detailed features of the 80% Guarantee Product, and the enhancements and relief measures introduced.
90% Guarantee Coverage under the Scheme (“90% Guarantee Product”)
With the approval of the funding by the Finance nhanluchungvuong.edu.vnmittee of the Legislative Council on 6 December 2019, the 90% Guarantee sản phẩm under the Scheme has been introduced on 16 December 2019. The 90% Guarantee product aims at providing additional tư vấn to small-sized enterprises & businesses with relatively less operating experience to obtain financing. With the rapid deterioration of the business environment following the outbreak và spread of the COVID-19, the Government has announced some enhancements and relief measures on the 90% Guarantee Product.
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The application period for the 90% Guarantee hàng hóa is until 30 June 2023.
Please refer to the SME Financing Guarantee Scheme Factsheet for detailed features of the 90% Guarantee Product, and the enhancements và relief measures introduced.
Special 100% Loan Guarantee under the Scheme (“Special 100% Loan Guarantee”)
Important cảnh báo to Loan Applicants under the Special 100% Loan Guarantee of the SME Financing Guarantee Scheme (“Scheme”): nhanluchungvuong.edu.vn Insurance Limited ("nhanluchungvuong.edu.vnI") wishes lớn alert the members of the public to beware of anyone offering to lớn make loan applications or obtain approval for a loan under the Scheme for a fee. Loan applicants are reminded that: 1. They need not engage or appoint any third buổi tiệc ngọt (except the participating lenders under the Scheme (“Lenders”)) lớn apply for a loan under the Scheme. Any loan application prepared by or submitted through a third các buổi party may incur unnecessary financial costs or loss to lớn the applicant và expose the applicant’s personal data lớn the risk of disclosure to lớn or misuse by an unscrupulous third party; 2. They should apply for a loan under the Scheme directly through the Lenders which will provide assistance without levying any application fee or handling fee; và 3. The Lenders và nhanluchungvuong.edu.vnI will not tolerate any illegal conduct (e.g. Making a false declaration or using a false instrument) & will report suspected illegal conduct khổng lồ the relevant law enforcement agencies.
To ease the cash flow problems of Enterprises adversely affected by the outbreak of COVID-19, the Financial Secretary announced in the 2020-21 Budget Speech that a Special 100% Loan Guarantee would be introduced under the Scheme. The Special 100% LoanGuarantee aims at alleviating the financial burden of paying employee wages and rents by the Enterprises which are suffering from reduced innhanluchungvuong.edu.vne and to help minimise the Enterprises shutting down và layoffs. The loans under the Special 100% Loan Guarantee are fully guaranteed by the Government at a concessionary low-interest rate. The Special 100% Loan Guarantee started to lớn receive applications on 20April 2020.
In order to further alleviate the cash flow pressure of the Enterprises due lớn the rapid deterioration of the business environment following the outbreak & spread of the COVID-19, the Government has introduced various enhancements to và relief measuresunderthe Special 100% Loan Guarantee.
The eligible Enterprises must have been operating for at least three months in Hong Kong as at 31 March 2022, and have suffered at least a 30% decline in sales turnover in any month since February 2020 (“Affected Period”) nhanluchungvuong.edu.vnpared with the monthly average of any preceding quarter from January 2019 to March 2022 (“Reference Period”), provided that the Affected Period must not be earlier than the Reference Period.
The maximum loan amount for each eligible Enterprise is the total amount of employee wages và rents for27 months or HK$9 million, whichever is the lower. The maximum repayment period isten years.
The application period for the Special 100% Loan Guarantee is until 30 June 2023.
Please refer to the SME Financing Guarantee Scheme Factsheet for detailed features of the Special 100% Loan Guarantee, and the enhancements và relief measures introduced.
