SFGS100%
SFGS90%
SFGS80%
SME Financing Guarantee Scheme
As the global epidemic has brought uncertainty to the economic outlook, the Hong Kong government has launched a number of measures. Among them, the Hong Kong government has decided to further extend the interest and non-repayment arrangement and application time limit under the "Small and Medium Enterprise Financing Guarantee Scheme". Enterprises can apply for a maximum of two years. There is no need to repay the principal, which I believe can effectively reduce the pressure on small and medium-sized enterprises in their capital turnover.
6 steps to apply
Application conditions:
-
Must be a company registered under the Business Registration Ordinance
-
Related companies of the company that are not engaged in loan business or lending institutions
-
non-listed company
-
The enterprise must have been operating in Hong Kong for at least 3 months before March 31, 2022
-
The enterprise's turnover in any month since February 2020 has dropped by at least 30% from the average monthly turnover in any quarter from January 2019 to March 2022
-
Do not have any delinquent debt outstanding for more than 60 days
FAQ
—— Our company has just been established, is it eligible to apply for the “100% Guaranteed Preferential Loan” under the SME Financing Guarantee Scheme?
-Since the 100% guaranteed preferential loan under the SME Financing Guarantee Scheme requires the company to have been operating in Hong Kong for at least 3 months before March 31, 2022, this does not apply to new companies that have just opened.
——If you apply for non-repayment of principal with interest, do you have to repay the principal only after the deadline for non-repayment of interest with principal?
- No, the company can choose to repay part of the principal at any time, but the maximum repayment period for this part of the principal is 30 months.
——What are the conditions for refinancing?
- Refinanced loans are limited to loans obtained or previously guaranteed under the program, and the corresponding refinancing must meet the following conditions: For existing loans, lending institutions must not be concerned about the ability of the borrowing enterprise to fulfill its credit covenants (especially if it has not been debt collection, no late payments, debt restructuring, or enforcement of judgments against the borrowing enterprise); if the existing loan is used to acquire assets, then those assets must be used as collateral for the new loan application, and the collateral will be treated as Asset collateral purchased for new loans is also subject to the relevant provisions in the "Master Guarantee Contract for Small and Medium Enterprise Financing Guarantee Scheme"; for refinancing loans that have been guaranteed under the scheme, lending institutions must ensure that the relevant guarantees are Receive relevant application forms before the due date in accordance with the regulations of the insurance company.
——How to apply for the SME Financing Guarantee Scheme to get the lowest interest?
- Generally speaking, when applying for the SME Financing Guarantee Scheme on your own, you will often encounter many difficulties during the process because the applicant may not be fully familiar with the application process and key points of the scheme. Additionally, because applicants only apply for financing with a single bank, their interest rates are typically lower than when seeking professional advisors.Much higher when assisting with application.
Why choose 101 Corporate Consultants?
Understand your needs and help you successfully apply for various types of funding.
From the required documents for application, to the application process, until successful approval.
101 corporate consultants are at your service throughout the process.
One phone call and the whole process is done for you.
Contact us immediately for enquiries.
