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SME Financing Guarantee Scheme
SME Financing Guarantee Scheme
 
OCBC Wing Hang participates in the "SME Financing Guarantee Scheme" launch by the Hong Kong Mortgage Corporation Limited ("HKMC") on 1 January 2011.
EXPRESS APPROVAL to assist eligible enterprises (1)to obtain financing from participating lenders for meeting their business needs so as to enhance their productivity and competitiveness in the rapidly changing business environment.
 
Under the guaranteed coverage of up to 80% of the credit facility limit provided by the HKMC, eligible enterprises can enjoy:
Special loan interest rate as low as P-2.5% p.a. (2)
Maximum credit facility limit up to HKD 12million
Maximum loan tenor up to 5 years
   
 
Easy to apply

Contact our customer service representatives at 2633 0628
Bring along the required documents to any of our branch
   
 
Terms and conditions
   
(1) Eligibility:
- With operation in Hong Kong and registered in Hong Kong under the Business Registration Ordinance (Chapter 310) (Excluding listed companies, lending institutions and their associates).
- Must have business operation in Hong Kong for at least two years on the date of the relevant application.
- Must have a good loan repayment record.
(2)"P" refers to the prime rate offered by OCBC Wing Hang Bank Limited ("The Bank"). The rate at P-2.5% p.a. is not guaranteed and subject to the final approval of the Bank. The actual loan interest rate for each enterprise may be different and not necessarily as low as P-2.5%p.a. and the Bank’s determination shall be final and conclusive. For details of the special loan interest rate, please contact the Bank’s staff directly.
   
 
Specific Terms & Conditions:
1. The SFGS is a loan guarantee product provided by the Hong Kong Mortgage Corporation Limited ("HKMC") under the support of the HKSAR government. For details, please visit the website of the HKMC.
2. Enterprise applying for the credit facility under the SFGS shall obtain approval from the HKMC.
3. Enterprise must have no outstanding default in any authorized loan institution and the loans granted under the SFGS should not be used for repaying, restructuring or repackaging other loans (but can be used for refinancing any facilities with a guarantee issued under SFGS or the Special Loan Guarantee Scheme operated by the Trade and Industry Department).
4. Personal guarantee is required from individual who, directly or indirectly, holds more than 50% of the issued share capital or equity interest of the enterprise.
5. The aforementioned information are for reference only. The Bank reserves the right to make final decision in relation to the interest rate, privileges and the approval of credit facility of under the SFGS, and the Bank shall not be required to give any reason for its decision and interpretation, which shall be final, conclusive and binding on all enterprises. For the avoidance of any doubt, the Bank reserves its right not to offer the privileges at its sole and absolute discretion without giving any reason therefor or any prior notice thereof.
   
General Terms and Conditions:
1. The Bank has the right to suspend, amend, vary and/or terminate all or any of the above Specific and / or General Terms and Conditions herein or any part thereof from time to time and at any time without notice to or consent of customers. The Bank’s decision and interpretation on all matters and/or disputes concerning or arising from any of the privileges contained herein and/or the Specific and/or General Terms and Conditions herein or any part thereof (including without limitation all or any definitions herein) shall be final, conclusive and binding on all customers.
2. The English version shall prevail if there is any inconsistency between the English and Chinese versions of the General and/or Specific Terms and Conditions.
   
 
Required documents

SME Financing Guarantee Scheme Application Form (can be obtained from OCBC Wing Hang Bank or the Hong Kong Mortgage Corporation Limited)
Valid Business Registration Certificate
Certificate of Incorporation (applicable to limited company only)
Annual Return to Companies Registry (AR1) and other local company information e.g. AR3, SC1, D2A and D2B (applicable to limited company only)
Certificate of Change of Name (if applicable)
Certificate of Incumbency (if applicable)
Evidence that the borrower has business operation for at least two years in Hong Kong (e.g. financial statements, bank statements, Tax Demand Note)
Identification documents of each director and shareholder/ partners/ sole proprietor
Residential address proof of all guarantors, all partners, sole-proprietor
Latest audited financial statements (only applicable for limited company)
Latest financial statements (both balance sheet and profit and loss statement) certified by sole-proprietor or partners
Latest 6 months bank statements (if applicable)
Facility letters of other lending institutions(if applicable)
   
 
   
   
 
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