Many banks have recently offered preferential lending rates for small and medium-size enterprises (SMEs) in an effort to financially support their businesses in difficult times...
Many banks have recently offered preferential lending rates for small and medium-size enterprises (SMEs) in an effort to financially support their businesses in difficult times.
The preferential lending rates for SMEs can be found in many banks such as Sacombank, VietinBank, Vietcombank, Eximbank, Techcombank, ACB and HDBank. The following are incentives in some banks.
SMEs producing automobiles, motorbikes, informatics electronic equipment, home appliances, machines and some others can approach loans with rates 1 – 4% per annum lower than usual at Housing Development Bank (HDBank). This program aims to support local production and reduce import. Additionally, export enterprises will be given 1 – 2% per annum incentive for VND lending and 1 - 1,2% per annum for USD. Especially, from JICA fund, the bank is developing preferential credit packages for SMEs to invest production machines and workshops with a rate of 18.5% per annum.
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| Many preferential credit programs for small and medium-size enterprises at HDBank |
Vietnam Export Import Commercial Joint Stock Bank (Eximbank) has launched the program "Export Financing in VND at Preferential Interest Rates". Accordingly, the interest rate applied to export enterprises is 19.5% per annum for the purpose of supplementing working capital to purchase goods, raw materials, and pay for costs related to exported goods production, trading and processing, for loan tenor of up to 6 months. Eximbank will set aside 2,000 billion dong for this program.
Asia Commercial Joint Stock Bank (ACB) from now till December 31, 2011 it will launch a credit program of providing loans with preferential lending interest rate for individual customers and households that are in need of capital for business and production purposes. Accordingly, the bank will reduce the lending rate by 1.2% per annum for each loan or credit line of VND500 million and over (in Ho Chi Minh City and Hanoi) or from 300 million dong and higher in other provinces and cities. The disbursement started from August 1 to December 31, 2011 and the total number of disbursements will not be limited.
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