Credit guarantee fund must have capital of 30 billion VND

The Ministry of Finance is seeking comments on the draft Regulations on the establishment and operation of the Credit Guarantee Fund (QBLTD) for small and medium-sized enterprises (SMEs).

Accordingly, the QBLTD must be established and managed by the People's Committee of the province or centrally-run city with a minimum charter capital of 30 billion VND. The QBLTD is granted loan guarantees for Vietnamese SMEs, cooperatives, individual business households, farm owners, farmers and fishermen.

The maximum guarantee amount for a customer must not exceed 15% of the equity and the total guarantee amount for customers must not exceed 5 times the actual charter capital of QBLTD. The application appraisal fee is 500,000 VND/application and the loan guarantee fee is determined by QBL but must not exceed 2%/year of the total guaranteed amount.

According to Thanhnienonline-HV