Preferential interest rates offered to Vietnamese SMEs to expand business


Workers pack clean food at BJ & T Company in the southern province of Can Tho. — baocantho.com.vn

HANOI: Loans at preferential interest rates of 1.2-4.4 per cent per year have been offered to Vietnam's small and medium-sized enterprises (SMEs) to start a business or expand production scale, Vietnam News reported Thursday (April 11).

The loans have been provided by Vietnam's Small- and Medium-sized Enterprise Development Fund.

SMEs can enjoy preferential lending interest rates from 1.2 per cent per year for short-term working capital loans and 4.4 per cent per year for medium- and long-term loans.

The maximum loan period is seven years while the interest grace period is two years, with a maximum loan amount of 150 billion Vietnamese dong (US$6 million) and a minimum loan amount of 300 million dong ($12,000).

SMEs account for 97 per cent of enterprises in Vietnam, creating about 36 per cent of employment at businesses, according to the General Statistics Office. - Xinhua

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