Small business households can borrow up to 3 billion VND

Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) has just launched the product "Loans for small business production", through which with direct capital support from VietinBank, individuals, households and micro enterprises can easily start and expand their businesses.

Illustrative photo. (Source: VNA).

Understanding the diversity of capital needs of customers, VietinBank applies many preferential limits, up to 80% of total capital needs for short-term loans and 70% for medium and long-term loans. In particular, customers with a Business Registration Certificate have the opportunity to borrow up to 3 billion VND.

To facilitate capital turnover as well as business stability, VietinBank also extends loan terms up to 3 years for working capital loans and 7 years for fixed asset purchase loans, with diverse lending methods such as single loans, limit loans and installment loans.

Understanding the difficulties of small business customers in terms of collateral, VietinBank applies simple lending procedures, with diverse forms of loan security such as real estate not only of customers but also of relatives; fully secured by third-party guarantees while allowing flexible forms of principal and interest repayment./.

According to Vietnamplus.vn