SME Financing Guarantee Scheme Enhancements to Take Effect

HKMC Insurance Limited announced that the enhancements to the SME Financing Guarantee Scheme (SFGS) as set out in the “The Chief Executive's 2024 Policy Address" will take effect today (18 November).  The measures allow borrowing enterprises under the SFGS to apply for principal moratorium for up to 12 months, for both existing and new loans.  The application period will last for 12 months, and end on 17 November 2025.  In addition, the maximum loan guarantee periods of the 80% and 90% Guarantee Products will both be extended by three years, to ten years and eight years respectively.  The partial principal repayment options will be offered to new loans under the two guarantee products.  These measures aim to alleviate the repayment pressure on borrowing enterprises, helping them address challenges brought about by economic restructuring.

Borrowing enterprises in need may approach the relevant participating lenders to discuss specific arrangements. For details, please refer to the SFGS website (https://www.hkmc.com.hk/sfgs).

HKMC Insurance Limited
18 November 2024