SME Financing Guarantee Scheme Enhancements to Take Effect

HKMC Insurance Limited has announced enhancements to the SME Financing Guarantee Scheme (SFGS), effective from 18 November 2024. These measures include a 12-month principal moratorium for both existing and new loans, available until 17 November 2025. Additionally, the loan guarantee periods for the 80% and 90% Guarantee Products will be extended by three years, and partial principal repayment options will be offered for new loans. These changes aim to ease repayment pressures on SMEs facing challenges due to economic restructuring. Borrowing enterprises can contact participating lenders to discuss specific arrangements.

Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/11/20241118-4/