The SME Credit Guarantee Scheme Designated for Special Projects provides a credit guaranty of up to 100% of the amount needed for an SME to finance a special project, doing so in order to support them in the development of projects designed to reform and update the nature of their business, to promote and advertise their own brands, to enhance the quality of their products, or to develop new business activities.
The Scheme, however, also aims to assist SMEs in their efforts to acquire the bank capital needed to resolve short-term financial difficulties which arise due to the payment of employee salaries, expenses for the rental of operating space, etc., if these SMEs are directly affected by extraordinary, unpredictable events or matters which are beyond human control, especially natural disasters or epidemic diseases.
The maximum guaranty offered per beneficiary under the Scheme is MOP 1 million. Moreover, the amount of credit guaranty provided excludes the interest and any other expenses in regards to the loan’s repayment.
The purpose of the Scheme is to assist SMEs which seek bank financing through the offer of a credit guaranty. Accordingly, the loan obtained may not be used to repay outstanding debt. There is no limitation on the form of a loan.
The repayment period of the loan is limited to a maximum of five years, counting from the drawdown date.