According to the draft regulation on the establishment, organization and operation of the Credit Guarantee Fund for Small and Medium Enterprises (SMEs) which the Ministry of Finance has announced the construction consultation before the Prime Minister board operating Fund established by the provincial People's Committee and the management of credit guarantees to SMEs.
To be guaranteed, SMEs must have investment projects, production plans - business effectively, ability to repay loans, a minimum 15% equity participation investment projects, with a total value of collateral, mortgage credit institutions in accordance with the law at least 15% of the loan value ... In particular, the draft, the Chairman decided to allow provincial guarantee fund for loans without collateral, or the total value of mortgage collateral, pledged less than 15% in value terms loans.
According to the draft, the maximum credit guarantee for a client is guaranteed not to exceed 15% of the Fund's equity. Total Credit Guarantee Fund for the guaranteed maximum does not exceed 5 times the actual charter capital of the Fund.
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