The Hong Kong Mortgage Corporation Insurance Limited (HKMCI) is
introducing a new 100 percent loan guarantee under the Hong
Kong SME Financing Guarantee Scheme (HKSFGS) to
absorb some of the economic shock felt by businesses in the last
several months. This is according to
Hong Kong's 2020-2021 Budget, delivered on February 26,
2020.
Following the budget, the
Anti-Epidemic Fund 2.0 announced by the Hong Kong SAR
government on April 8 expanded on the measures previously announced
by introducing a set of new enhanced terms for the 80 percent, 90
percent, and special 100 percent guarantee loans available for
small and medium enterprises (SMEs).
Under the Enhanced 100 Percent Loan Guarantee Scheme, the
guarantee commitment has been increased to HK$50 billion (US$6.5
billion). Eligible SMEs will receive a maximum loan amount of HK$4
million (US$520,000) and can benefit from the principal moratorium
arrangement for the first 12 months.
