Hong Kong Funding Scheme for Business Development
Getting cash flow is the very first step for any new business. There are many sources to consider when a business owner is looking for financing such as personal savings, capitalising and loans. One more option to consider is the funding schemes provided by the Government. Hence we would like to introduce a few that specifically focusing to Small and Medium Enterprises. In order to provide finance and cash flow to further develop and expand their businesses. Herein-below are brief about each of them.
The SGS provides loan guarantee to SMEs to help them secure loans from the participating lending institutions (PLIs) for acquiring business installations and equipment or meeting working capital needs of general business uses. SGS is eligible for SME. (Excluding an associate of the lender and carrying on the business of a lender.)
The Scheme offers three categories of loans, namely Micro Business Start-up Loan, Self-employment Loan and Self-enhancement Loan. The target borrowers are business starters, self-employed persons and those wanting to achieve self-enhancement through training, upgrading of skills or securing professional certification. Applicants must be HKID holder, aged 18 or above, not subject to any bankruptcy order or proceedings at the time of application.
The Scheme aims at helping local SMEs and non-listed enterprises 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. It is eligible for HK registered enterprises (Not listed company, not an associate of the lender; and not carrying on the business of a lender)
You may want to read:WHAT IS TECHNOLOGY VOUCHER PROGRAMME (TVP)?
For more information, please contact us