In the 2024 Policy Address, the Chief Executive announced new measures to support borrowing enterprises under the SME Financing Guarantee Scheme. These include a principal moratorium of up to 12 months for both existing and new loans. The maximum loan guarantee periods will be extended to ten years for the 80% Guarantee Product and eight years for the 90% Guarantee Product. Additionally, new loans will offer partial principal repayment options. HKMC Insurance Limited will coordinate with lending institutions to implement these changes, expected to take effect in November. Borrowing enterprises are encouraged to consult their lenders for further details.
Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/10/20241016-5/
