HKMA SME Financing Support Measures

On Mar. 28, HKMA introduced several measures to support SMEs.

  • HKMA and and the Banking Sector SME Lending Coordination Mechanism introduced 9 measures to support SMEs in obtaining financing, to support their development.
  • Follows HKMA Feb. 2024 said application period extended to Mar. 31, 2026, #133794.
  • Measures
  • Never demand early repayments from mortgage customers who repay on schedule.
  • Give customers a transition period of at least 6 months for credit limit adjustments.
  • Expedite the handling of applications for SME financing guarantee scheme products.
  • Sympathetic consideration for SMEs facing challenges, including loan restructuring.
  • Offer credit products that better serve SMEs’ needs and other support services.
  • Consider lowering interest charges and fees for SMEs in need, provide transparency.
  • Set up a one-stop platform for providing information on banking services for SMEs.
  • Provide convenience to customers to switch lending banks through data sharing.
  • Regular meetings between banks and business sectors to understand SMEs' needs.

Regulators HKMA
Entity Types Bank
Reference PR 3/28/2024
Functions Compliance; Financial; Product Administration; Reporting; Risk; Treasury
Countries Hong Kong
Category Central Government
Products Banking; Loan
Regions AP
Rule Type Guidance
Rule Date 3/28/2024
Effective Date 3/28/2024
Rule Id 206298
Linked to Rule :133794
Reg. Last Update 3/28/2024
Report Section International

Last substantive update on 03/31/2024