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SME Financing Guarantee Scheme – Special 100% Loan Guarantee in support of SMEs

Hk sme

SME Financing Guarantee Scheme – Special 100% Loan Guarantee in support of SMEs

SME Financing Guarantee Scheme – Special 100% Loan Guarantee

Standard Chartered Business Banking fully supports the “SME Financing Guarantee Scheme – Special 100% Loan Guarantee” launched by HKMC Insurance Limited (HKMCI) to help SMEs cope with the challenges. Eligible clients can submit applications within 12 months of scheme launch. Please register online now to enjoy priority processing.

Application Requirements and Documents Required

Application Requirements

  • Business registration and operation in Hong Kong for at least 3 months as at the end of December 2019
  • Suffered at least a 30% decline in sales turnover in any month since February 2020 compared with the monthly average of any quarter in 2019

Documents Required

  • Proof of business registration and operation in Hong Kong for at least 3 months as at the end of December 2019
  • Proof of at least a 30% decline in sales turnover in any month since February 2020 compared with the monthly average of any quarter in 2019
  • Proof of employee payroll and enterprise’s rental payment record

*If proved an enterprise does not have either employee(s) or rented office(s), the calculation can be replaced by half of the maximum monthly net income in 2019.

^ The Prime Lending Rate is currently at 5.25% p.a. as announced by The Hong Kong Mortgage Corporation Limited which is accessible at www.hkmc.com.hk.

#Clients of Special 100% Loan Guarantee are entitled to HKMCI’s full guarantee fee waiver.

To borrow or not to borrow? Borrow only if you can repay!

Remarks:

  1. The SME Financing Guarantee Scheme – Special 100% Loan Guarantee (“100% SFGS”) is provided by HKMC Insurance Limited (“HKMCI”).
  2. Personal guarantees are required from major shareholders in the case of limited companies and from partners in the case of partnerships.
  3. Client must have successfully submitted the application to HKMCI with Standard Chartered Bank (Hong Kong) Limited (the “Bank”) on or before 19 April 2021 and drawn down the 100% SFGS before the designated deadline.
  4. In addition to the terms and conditions of the 100% SFGS as specified and announced by HKMCI, client must also fulfil the terms and conditions as specified by the bank from time to time. For details of the 100% SFGS, please visit relevant website or contact our Relationship Managers.
  5. The Bank reserves the right to determine the acceptance of a loan application, the applicable facility amount and loan tenor by considering the client’s credit records and other relevant factors. The application for the banking products and services under the 100% SFGS is subject to the relevant eligibility, application process and relevant terms and conditions. For further details, please refer to our Relationship Manager for assistance. In case of any disputes, the Bank’s decision shall be final and binding.
  6. If there is any inconsistency or conflict between the English and the Chinese versions, the English version shall prevail.