Bidv Saigon punts on lending to private SMEs

Bank for Investment and Development of Vietnam(Bidv)-Saigon branch is building a two trillion dong lending programme for small and medium private enterprises, according to Bidv-Saigon branch. In the short term, Bidv Saigon will cooperate with HCM City Plastic Association to build an appropriate lending mechanism.
“To create better conditions for businesses to access loans, it is required to build a preferential lending mechanism in line with current credit regulations. For example flexible loan guarantee procedures are applied, accordingly businesses are allowed to mortgage assets to be formed from loans, lending interest rates are based on that in the market but lower than that of commercial joint stock banks. In turn, businesses involving into this programme must also follow conditions of the programme,” said Nguyen Trong Thanh, director of Bidv Saigon.

 

Category: Finance