Banks lend helping hand to small firms
VNBusinessNews – Domestic small- and medium-sized enterprises with charter capital of 20 billion VND or less and less than 500 employees will be eligible to apply for soft loans from the Viet Nam International Bank (VIB), guaranteed by the Viet Nam Development Bank (VDB).
Under the terms of an agreement signed by the two banks on Feb. 17, VIB will earmark more than 8 trillion VND for the project during 2009, which is soon to be launched across its 106 branches nationwide.
It is estimated that approximately 1,000 small- and medium-sized enterprises across the country will be eligible to benefit from the preferential loans provided by VIB.
The move aims to ease small firms’ access to capital sources in order to maintain their business and production activities in the face of the global financial crisis.
VIB is currently actively working to offer interest rate subsidies for domestic businesses, as required by the government, disbursing more than 2 trillion VND since the beginning of the month.
