| To cope with HKSAR Government’s
SME Loan Guarantee
Scheme (“SGS”) and recently enhanced
Special
Loan Guarantee Scheme
(“SpGS”)(1),
the following loans /facilities
are offered
by Hang Seng Bank Limited (“the Bank”)
for SMEs and (if applicable) other
eligible enterprises.: |
 Special Loan Guarantee Scheme (“SpGS”)
|
| Two
Types of Facility |
| Eligible
enterprises(2) can either
apply for Instalment Loan or Revolving
Limit, or a combination of both.
The aggregate loan amount can be
up to HK$12,000,000(3) |
Instalment
Loan |
Revolving
Limit
|
Instalment
Loan allows you to better plan
your finances :
A maximum of 6 months’ Principal Repayment Holiday after the first
loan drawdown date (“Principal Repayment Holiday”) allows you
to repay interest only (4)
|
Standby
Overdraft Facility 5
helps you meet unexpected financial
needs :
Interest will only be charged on amount actually utilized |
|
Flexible Trade Finance package (“Trade Facility”):
Including Import Documentary Credit (DC) Issuance, Import Loans, Invoice Financing, Export Bills under DC Negotiation, Purchase of Collection Bills and Packing Loans
|
| Flexible Loan Tenor |
| - |
Instalment
Loan: Repayment Period (including
a Principal Repayment Holiday
of up to 6 months) can be up
to 60
months. |
| - |
Revolving
Limit: This limit is offered
on a revolving basis. Utilization
period can be up to 60
months.(5) |
|
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|
| Apply now and you can enjoy the following privileges:
|
| - |
Interest Rate can be as low as P(6) -1%p.a.
|
| - |
Interest Rebate of up to a maximum of 5-month interest(7)
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| - |
Enjoy 50% discount of handling fee and/or first year annual fee(8)
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| - |
Enjoy up to HK$2,400 Supermarket Cash Coupon(9) and HK$5,000 Trade Fee Discount Coupon(10) upon approval
|
| - |
Apply online and enjoy $100 Hang Seng Credit Card Cash Dollars upon
approval(11)
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 |
SME Loan Guarantee Scheme (“SGS”)
|
| 1. |
Business Installations and
Equipment Loans - Financing
to help SMEs acquire business installations
and equipment(12) to enhance
business efficiency
|
| 2. |
Working Capital Loans- Extra funds for SMEs to meet working capital needs for general business uses so as to grasp opportunities for business expansion |
|
 |
SMEs(13) can either
apply for “Business Installations
and Equipment Loans” or “Working
Capital Loans”, or a combination
of both. The aggregate loan amount
can be up to HKD12,000,000 (14) |
| |
|
Maximum loan tenor can be up to five years |
|
|
Apply online and enjoy $100 Hang Seng Credit Card Cash Dollars upon
approval(15) |
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| For enquiries, please call our 24-hour Business Partner Direct on 2198 8000 to contact our Customer Service Representatives. |
| Terms and Conditions: |
| (1) |
For details about the SpGS and SGS, please visit the website of the Trade and Industry Department. |
| Terms and Conditions for SpGS: |
| (2) |
According to the HKSAR
Government, eligible enterprises
generally refer to enterprises with
substantive business in Hong Kong
and registered in Hong Kong under
the Business Registration Ordinance
(Chapter 310), except listed companies,
lending institutions and their associates
and such enterprise must have been
in operation for at least one year
on the date of implementation of
the SpGS. Please refer to the eligibility
criteria and other requirements set
out in the SGS’s application
form and related documents for the
exact requirements which shall be
the binding requirements. |
| (3) |
The maximum
loan amount for each eligible enterprise
is HKD12,000,000, within which up
to HKD6,000,000 can be for the Revolving
Limit. The final approved loan amount
and/or limit is subject to the result
of the individual customer’s
credit assessment by Hang Seng Bank
Limited (the “Bank”).
The Bank reserves the right of final
loan approval. The loan amount/limit
and other terms and conditions of
the loan(s)/facility(ies) are subject
to the terms and conditions as set
out in the relevant loan documents
to be signed by the customer. In
case of any disputes, the decision
of the Bank shall be final. |
| (4) |
Customer can pay interest
only but not make any principal repayment
within the Principal Repayment Holiday.
After the Principal Repayment Holiday,
customer shall repay the entire principal
and pay interest during the rest
of the repayment period. It should
be noted that the total amount of
interest to be paid on an Instalment
Loan with Principal Repayment Holiday
is actually larger than that under
an Instalment Loan without the Principal
Repayment Holiday of the same loan
tenor. |
| (5) |
The approved Overdraft
Facility limit will be reduced proportionally
per month across the utilization
period until the end of the utilization
period. Let’s take an example
of an Overdraft Facility of HK$300,000
with 30-month utilization period,
the limit will be reduced by HK$10,000
per month, i.e. the limit will be
HK$29,000 in the second month and
HK$10,000 in the last month respectively.
Any excess amount utilized over that
month’s overdraft limit will
be treated as unauthorized overdraft
and will be charged an unauthorized
overdraft interest at the rate of
3%p.a. over the rate for authorized
overdraft interest (minimum P+8%p.a.) |
| (6) |
P refers to the Hong Kong Dollar Prime Lending rate as quoted by the Bank from time to time. The interest rate will be subject to fluctuation. Please click here for the HKD Prime Rate. |
| (7) |
(Applicable to Instalment Loan only) If the customer has no unsatisfactory repayment records in the opinion of the Bank during the repayment period (i.e. during the first 12 months, first 24 months, first 36 months, first 48 months and 60 months) after first loan drawdown, the customer can receive a rebate of the interest portion of the repayment amount falling due at the 12th, 24th, 36th, 48th, and 60th month after first loan drawdown respectively within 3 months after each repayment period concerned. That means if the customer has unsatisfactory repayment record in the opinion of the Bank during the repayment period, the customer will not be entitled for any interest rebate in the remaining repayment period. The rebate amount will be credited to the customer’s loan disbursement account. This promotion offer is not applicable to customers with loan interest charged at HIBOR basis.
|
| (8) |
For the Instalment Loan, the Bank will charge a handling fee which is equivalent to 1% of the approved loan amount. For Overdraft Facility and/or Trade Facility, the Bank will charge an annual fee which is equivalent to 1% of the approved limit to be paid annually in advance and utilization period of less than one year will be treated as one year for the purpose of the levy of this annual fee. No matter the customer can enjoy the above 50% discount offer or not, the handling fee and/or annual fee charged by the Bank shall not be less than HK$3,000 in total per year.
|
| (9) |
Applicable for loan/ limit approved on or before 31 Dec 2009. Customers are eligible for HK$100 Supermarket Cash Coupon ("Coupon") for every HK$1,000,000 loan draw down/ limit grant, subject to a maximum of HK$2,400 for each eligible customer. The Bank is not the supplier of the Coupon and will not assume any liability in relation to the Coupon. The quality and the availability of the products/services related to the Coupon are the responsibility of the supplier of the Coupon. For the usage of the Coupon, please refer to the terms and conditions printed therein. This offer is not applicable to customers with loan interest charged at HIBOR basis.
|
| (10) |
Applicable for loan/ limit approved on or before 31 Dec 2009. Customers can receive 50 Trade Fee Discount Coupons with a face value of HK$100 each after loan draw down/ limit grant. Trade Fee Discount Coupon is only applicable to trade services (except factoring services) provided by Hang Seng Trade Services in Hong Kong only and application is restricted by related terms and conditions printed therein. This promotion offer is not applicable to customers with loan interest charged at HIBOR basis.
|
| (11) |
Only applicable to
customers who hold a valid Hang Seng
Commercial Card. After applying for
the loan(s)/facility(ies) online
and upon successful application,
if a customer spends or makes cash
advances at least once within two
months after first loan drawdown/facility
utilization, $100 Cash Dollars will
be credited to the Commercial Card
account used to make the first spending
or cash advance by the customer within
eight to 10 weeks after the posting
date of the relevant spending or
cash advance transaction. Use of
Cash Dollars is subject to the terms
and conditions for Hang Seng Credit
Card Membership Rewards Program.
For details of the Cash Dollars reward,
please visit Hang Seng Commercial Card webpage. |
| Terms
and Conditions for SGS: |
| (12) |
Business installations and equipment may include machinery, tools, computer software and hardware, communication system, office equipment, transport facilities, furniture and fixtures (e.g. air-conditioning system, built-in cabinets and lighting system, etc. but decoration works are excluded.) |
| (13) |
The HKSAR Government defines SMEs as any manufacturing business that employs fewer than 100 persons in Hong Kong; or any non-manufacturing business that employs fewer than 50 persons in Hong Kong. "Number of persons employed" include individual proprietors, partners and shareholders actively engaged in the work of the company and salaried employees of the company, including full-time or part-time salaried personnel directly paid by the company, both permanent and temporary, at the time of lodging applications under the SGS. |
| (14) |
For a customer who applies for Business Installations and Equipment Loans only, the maximum loan amount can be up to HKD12,000,000 or 80% of the equipment's purchase price, whichever is lower. The final approved loan amount is subject to the result of the individual customer’s credit assessment by the Bank. The Bank reserves the right of final loan approval. The loan(s) amount and other terms and conditions of the loan(s) are subject to the terms and conditions as set out in the relevant loan documents to be signed by the customer. The Bank will charge
a handling fee by way of further
loan, which is equivalent to 1% of
the approved loan amount or HKD3,000,
whichever is higher. The Bank
will also charge a Company Search
Fee of HKD150 per search. |
| (15) |
Only applicable to
customers who hold a valid Hang Seng
Commercial Card. After applying for
the loan(s) online and upon successful
application, if a customer spends
or makes cash advances at
least once within two months after
first loan drawdown, $100 Cash Dollars
will be credited to the Commercial
Card account used to make the first
spending or cash advance by the customer
within eight to 10 weeks after the
posting date of the relevant spending
or cash advance transaction. Use
of Cash Dollars is subject to the
terms and conditions for Hang Seng
Credit Card Membership Rewards Program.
For details of the Cash Dollars reward,
please visit Hang
Seng Commercial Card webpage. |
|
The Bank reserves
the discretion to amend the above
offer and the relevant terms and
conditions thereof at any time without
prior notice. In case of any disputes,
the decision of the Bank shall be
final. |
|
If there is
any discrepancy between the English
and Chinese versions of these Terms
and Conditions, the English version
shall prevail. |
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