(I) SME Loan Guarantee Scheme (SGS) Finance and
(II) Special Loan Guarantee Scheme (SpGS) Finance
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| (I) SME Loan Guarantee Scheme (SGS) Finance |
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Wing Hang Bank participates in the "SME Loan Guarantee Scheme" of the government with a variety of packages to assist small and medium enterprises (SMEs) in business expansion. |
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| Business Installations and Equipment Loan |
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To facilitate the acquisition of business installations and equipment, including: machinery, tools, computer software and hardware, communication system, office equipment, transport facilities, furniture and fixtures. |
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Related installations and equipment can be located within or outside Hong Kong. |
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Flexible repayment period up to 60 months. |
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Maximum loan amount up to 100% of the purchase value of the related installations and equipment. |
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| Working Capital Loan |
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For general business use in meeting working capital needs. |
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Flexible repayment period up to 60 months. |
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No collateral is required which gives you extra flexibility on capital flow. |
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| Loan amount up to HK$12 million |
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The aggregate loan amount of Business Installations and Equipment Loan and Working Capital Loan can be up to HK$12 million. |
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| (II) Special Loan Guarantee Scheme (SpGS) Finance |
| Wing Hang Bank participates in the "Special Loan Guarantee Scheme" of the government which aims to help Hong Kong enterprises to obtain bank facilities to tide over the liquidity problem during the global financial crisis. |
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| Eligibility |
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Enterprise with substantive business in Hong Kong and registered in Hong Kong under the Business Registration Ordinance (Chapter 310), except listed companies, lending institutions and their associates. |
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| Use of loan |
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The loans shall be used for meeting the needs of general business use of the applicants. |
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| Guarantee ceiling and period |
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The Government will provide a guarantee of up to 80% of the approved loan. |
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The maximum loan amount for each enterprise is HK$ 12 million (i.e. the maximum amount of Government’s guarantee for each enterprise is HK$ 9.6 million). |
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The maximum guarantee period for each loan is 60 months or up to 31 December 2015, whichever is earlier. |
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| Other requirements |
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The enterprise must have been in operation for at least one year on the date of implementation of the Scheme (i.e. 15 Dec 2008); |
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Personal guarantee is required of the enterprise owner or, in the case of a limited company, shareholders together holding more than 50% of the equity interest of the enterprise; |
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The enterprise must have no outstanding default in any banks; and |
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The loans should not be used for repaying, restructuring or repackaging other loans. |
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| For further enquiries, please contact our customer service representatives at 2633 0628. |
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