SME Financing Guarantee Scheme
We support the 'SME Financing Guarantee Scheme' ('SFGS') launched by HKMC Insurance Limited ('HKMCI'), standing together with local SMEs through the challenges.
Enquiry / Application:
Call us on 2921 2060 or contact your Relationship Manager
| |
Key Feature of 80% Guarantee Product |
Key Feature of 90% Guarantee Product |
| Application Period |
Until end-March 2026# |
Until end-March 2026# |
| Eligibility |
Companies registered in Hong Kong; AND Business has been in operation for at least 12 months |
Companies registered in Hong Kong |
| Facility Type |
Non-revolving term loan;
Revolving Loan;
Trade Facility;
Overdraft Facility
|
Term Loan |
| Maximum Facility Amount |
HK$18 million |
HK$8 million |
| Maximum Guarantee Period, Repayment Term (applicable to non-revolving Facility only) and Relief Arrangement |
10 years
(Option 1 pay interest only in the first 6 months from the Starting Date of the Facility, upon the Borrower's application* ; Option 2 partial principal repayment^; Option 3 2024 Principal Moratorium for up to 12 months in aggregate#)
|
8 years
(Option 1 pay interest only in the first 12 months from the Starting Date of the Facility, upon the Borrower's application* ; Option 2 partial principal repayment^; Option 3 2024 Principal Moratorium for up to 12 months in aggregate#)
|
| Guarantee Fee & Handling charge |
Please refer to terms and conditions point 1 |
* Pay interest only is subject to terms and conditions.
^ The borrower can apply for repaying 10% of original principal repayment amount over a period of 12 months or repaying 20% of original principal repayment amount over a period of 18 months or repaying 50% of original principal repayment amount over a period of 30 months. The loan tenor and the guarantee period will generally be extended accordingly. "Partial principal repayment" is subject to terms and conditions.
# The borrower may apply for 2024 principal moratorium of up to 12 months during the application period from 18 November 2024 to 17 November 2025. "2024 Principal moratorium" is subject to terms and conditions.
Terms and Conditions
- The SFGS is provided by The HKMC Insurance Limited ('HKMCI'). A guarantee fee will be applied and is subject to the credit facility amount, bank interest rate and the guarantee coverage as determined by the HKMCI from time to time. For the Scheme's details, please visit the HKMCI website.
- Please call our SME hotline on 2921 2060 or contact your relationship manager for more details.
- Shanghai Commercial Bank Limited ('SCB') shall have the absolute discretion to approve or reject the application of any facilities under the SFGS. The final approved amount of credit facility, rate of interest, fees and charges and any other terms and conditions are subject to the relevant loan documents to be accepted and signed by the applicant. In the event of dispute, SCB reserves the sole right of final approval.
- The loan may also be subject to other applicable terms and conditions. SCB reserves the right at its discretion to amend or cancel the above terms and conditions without prior notice.
If there is any inconsistency or conflict between the English and the Chinese versions, the English version shall prevail.
Reminders about Responsible Borrowing
- You should have a clear understanding of your financial condition, daily expenses, and actual borrowing needs.
- You should have assessed your repayment ability and avoid over-borrowing.
- You should repay any outstanding balance on time to avoid late payment charges and additional overdue interest charged by the bank.
- To borrow or not to borrow? Borrow only if you can repay!
In case you wish to enquire whether a third party is appointed by our Bank for referring credit card or loan application, please contact customer service hotline 2818 0282.
