Introduction of SME Financing Guarantee Scheme
- There are SFGS (SME Financing Guarantee Scheme) 100%, 90% and 80% Guarantee Products. Below is table for 90% and 80%:
| There are SFGS 90%, | There are SFGS 80% | |
| Target Enterprises | SME and non-listed | |
| Eligible Enterprises | Business with less operating experience and Professionals seeking to set up their own practices | Business operation for at least one year |
| Max. Facility Amount | HK$6 million | HK$15 million |
| Type of Loan | Team loan only | Team loan and Revolving loan |
| Use of Proceeds | Working capital, Acquisition of equipment of assets | |
| Feature | Apply for principal moratorium of up to 12 months | |
| Application period | From now till 3 September 2020 | |
- SFGS 100% is launch a few days ago. Required proof of business operation for at least 3 months by the end of December 2019. Need copy of ID proof of business owner or major shareholders. Proof of the business suffered at least a 30% decline in sales turnover in any month since February 2020 compare with monthly average of any quarter in 2020. Proof of employee payroll and enterprise’s rental payment record.
| Eligible Enterprises | Local enterprises of all sectors affected by the coronavirus outbreak |
| Loan Amount | Up to the total amount of employee wages and rents for 6 months or HK$4 million whichever is the lower |
| Interest Rate | HK Prime Rate minus 2.5% p.a. (currently at 2.75% p.a.) |
| Payment Period | Up to 36 months, with an option of principal moratorium of up to 12 months from the drawdown of loan |
| Offers | Fee waiver for guarantee fee and handling charge |
| Application Period | From now until 19 April 2021 |
For any information, please contact our team at info@opkofinance.com or at +852 2654 8800.
