Loan Guarantee Scheme Supports Hong Kong's Retail SMEs Amid Pandemic Challenges

Wednesday, 5 June 2024, 13:30
Since the initiation of the loan guarantee scheme in April 2020, the Commerce Minister reveals that over 6,000 companies and 53,000 employees have benefitted from loans totaling more than HK$19 billion. This financial support has been pivotal in aiding Hong Kong's retail SMEs to navigate the turbulent economic conditions brought about by the pandemic. The efforts to bolster the small business sector have shown significant impact on sustaining businesses and preserving jobs.
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Loan Guarantee Scheme Supports Hong Kong's Retail SMEs Amid Pandemic Challenges

HK$19 Billion in Loans Approved for Hong Kong's Retail SMEs

The Commerce Minister announced that over 6,000 companies and 53,000 employees have benefited from the loan guarantee scheme initiated in April 2020. The scheme was designed to provide financial support to retail SMEs impacted by the pandemic.

Key Points:

  • Over 6,000 companies have availed loans
  • 53,000 employees have benefited
  1. Loan guarantee scheme started in April 2020
  2. HK$19 billion in total loans approved
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