Loans

Brunei
Description of stimulus packageInstructions and informationContact
Deferment of principal or loan repaymentCompanies and individuals may apply for suspension and restructuring at their banks or financial institutions between April 1 and December 30, 2020The public can contact their banks, call AMBD at 2388388 or email [email protected] for information on these measures.
Deferment of payments on the Employees Trust Fund (TAP) and Supplemental Contributory Pension (SCP) contributionsThis is applicable to private sector employees earning BND1,500 and below in all sectors of the MSME category with employees fewer than 100. Companies can submit an application to TAP via email at [email protected] (Companies have to repay the contributions within a year after the 6-month deferment)Tabung Amanah Pekerja
Cambodia
Description of stimulus packageInstructions and informationContact
Low-interest loans to SMEs in agricultural sectorLow-interest loans will be made available through the state-owned Rural Development Bank (RDB)AGRICULTURAL AND RURAL DEVELOPMENT BOARD
Indonesia
Description of stimulus packageInstructions and informationContact
Relaxes debt quality assessment and restructuring requirementsSMEs with good credit history are eligible for loans of up to 10 billion rupiah (US$655,000) without need to consider business prospects and financial condition. This is applicable until 31 March 2021. (OJK Regulation No. 11/POJK.03/2020)OTORITAS JASA KEUANGAN
People's Business Credit (KUR)KUR is provided by banks to MSMEs that are feasible but not yet bankable (without collateral/assets). Interest rate is reduced from 7% to 6% in January 2020.KREDIT USAHA RAKYAT
Lao PDR
Description of stimulus packageInstructions and informationContact
Income tax exemption for MSMEsEligible MSMEs will be exempted from tax for 3 months from April to June 2020. TaxRIS Home Page
Malaysia
Description of stimulus packageInstructions and informationContact
Deferment of all loans/financing repaymentsAn automatic six-month moratorium (deferment) of all loan/financing repayments effective from April 1, to September 30, 2020. Borrowers with loan/financing that meet the conditions do not need to make any repayment, and no late payment charges or penalties will be imposed.BANK NEGARA MALAYSIA
Restructuring loans/financing to corporationsBanking institutions will facilitate requests by businesses to defer or restructure their loans/financing repayments/td>Business should contact their banks.
Abolishing interest rateThe government will be abolishing the 2% interest rate for the RM500mil Micro Credit Scheme under Bank Simpanan Nasional. This loan scheme for micro enterprises is also extended to TEKUN Nasional with a maximum loan limit of RM10,000 at 0% for each enterprise.Business should contact banks offering the loan scheme.
Myanmar
Description of stimulus packageInstructions and informationContact
Loans to priority sectorsA COVID-19 Fund of Ks 100 billion has been set up to be provided to enterprises that are included in the priority sectors at an interest of 1% for a one-year period. Applications are available at the following offices or departments and on their websites:
(a) The head office of the Union of Myanmar Chambers of Commerce and Industry (UMFCCI) Yangon.
(b) Region/State office of the Chamber of Commerce and Industry.
(c) The head office and Region/State offices of the Directorate of Investment and Company Administration (DICA).
(d) The head office and Region/State offices of the Directorate of Industrial Supervision and Inspection (DISI).
(e) The head office and Region/State offices of the Directorate of Hotels and Tourism (DHT)
UMFCCI
01-2314343
01-2302485
1-2301562
Email:
[email protected]

DICA
01-658121
01-658131

DISI
09-5153946

DHT
09-5034582

Philippines
Description of stimulus packageInstructions and informationContact
Specialized microfinancing loans (P3)Pondo sa Pagbabago at Pag-Asenso (P3) microfinancing special loan package of the Small Business Corporation by the Department of Trade and Industry provides lending at not more than 2.5% interest per month. SMALL BUSINESS CORPORATION
Enterprise Rehabilitation Financing loan fund (Covid19 P3-ERF)Micro and small enterprises with at least one year continuous operation prior to March 2020, and whose businesses suffered drastic reduction in sales during the ensuing epidemic may access the loan fund at an interest rate of 0.5% per month. Micro enterprises with asset size of not more than P3.0 million may borrow P10.0 thousand up to P200.0 thousand. Small enterprises with asset size of not more than P10.0 million may borrow an amount not exceeding P500.0 thousand. The facility will be implemented once the Community Quarantine declarations are lifted by the National Government and/or respective Local Government Units.SMALL BUSINESS CORPORATION
Singapore
Description of stimulus packageInstructions and informationContact
Low cost funding through Enterprise Financing Scheme - enhanced working capital loan, trade loan etc.Loan quantum and risk-sharing was raised for existing financing schemes for SMEs for new applications initiated from 8 April 2020 until 31 March 2021. Business should contact their banks for application. ENTERPRISE SINGAPORE
Temporary Bridging Loan Programme (TBLP)Eligible enterprises can secure a loan amount of up to $5 million at 5% p.a. which is higher than the cap of $1 million for the working capital loan. Introduced in March 2020, the TBLP is available for a year until March 2021. Business should contact participating financial institutions.ENTERPRISE SINGAPORE
Loan deferment on secured SME loansTotal debt servicing ratio (TDSR) will not apply to loans for SMEs when they opt for loan deferment. SMEs will also be able to extend the tenure of their loans by up to the corresponding principal deferment period.Business should contact their banks. More information is available at MONETARY AUTHORITY OF SINGAPORE
Thailand
Description of stimulus packageInstructions and informationContact
Soft loansSMEs could obtain loan at 2% interest rate for amount not exceeding 500 million baht and interest-free for the first 6 months.BANK OF THAILAND
6-month debt moratoriumFor loans not exceeding 100 million baht, a six-month debt moratorium on principal and interest could be applied. BANK OF THAILAND
Vietnam
Description of stimulus packageInstructions and informationContact
Interest rate cuts by the State Bank of Vietnam (SBV)The State Bank of Vietnam (SBV) (central bank) has cuts refinancing rate from 6.0% to 5.0% p.a. The rediscounting rate is reduced from 4.0% to 3.5% p.a. The overnight rate in the inter-bank electronic payments and the rate of loans to finance short balances in the clearing transactions between the SBV and the commercial banks is lowered from 7.0% to 6.0% p.a. (Decision No. 418/QD-NHNN dated March 16, 2020)STATE BANK OF VIETNAM
Directions to restructure the repayment periods, waive and reduce the interest and fees, maintain the debt classificationsThe Governor of the State Bank of Vietnam (SBV) issued Circular No. 01/2020/TT-NHNN directing credit institutions and foreign bank branches to restructure the repayment periods, waive and reduce the interest and fees, maintain the debt classifications in order to support those customers affected by Covid-19 with effect from 13 March 2020.STATE BANK OF VIETNAM
India
Description of stimulus packageInstructions and informationContact
Collateral-free automatic loans.Businesses can borrow from banks and NBFCs for up to 20% of their entire outstanding credit as on 29 Feb 2020. The loans will have a 4 year tenor with a moratorium of 12 months on principal. No collateral is required and this loan scheme can be availed until 31 Oct 2020. PRESS INFORMATION BUREAU
Subordinate Debt for Stressed MSMEs.The Government will facilitate issuance of Rs 20,000 cr as subordinate debt. Functioning MSMEs that are NPA or stressed are eligible. CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises) will provide partial credit guarantee to banks.PRESS INFORMATION BUREAU
Equity infusion for MSMEs.Rs 50,000 cr Equity infusion for MSMEs through Fund of Funds will help MSMEs expand in capacity and size and encourage MSMEs to be listed on the main board of stock exchanges.PRESS INFORMATION BUREAU
Japan
Description of stimulus packageInstructions and informationContact
Safety Nets for Financing Guarantee.Only designated industries could be eligible for financing guarantee of the full loan amount under a framework of up to 280 million yen.MINISTRY OF ECONOMY, TRADE AND INDUSTRY
Australia
Description of stimulus packageInstructions and informationContact
Funding through Coronavirus SME Guarantee Scheme with initial 6-months repayment holidayThe Government will provide a guarantee of 50% to SME lenders to support new short-term unsecured loans to SMEs. The loans will be up to three years, with an initial six month repayment holiday.AUSTRALIAN TREASURY
Reducing cost of creditThe Reserve Bank of Australia (RBA) announced a package on 19 March 2020 that allows banks to have access to at least $90 billion in funding at a fixed interest rate of 0.25% which will reduce rate for borrowers. AUSTRALIAN TREASURY
New Zealand
Description of stimulus packageInstructions and informationContact
Business finance guarantee scheme.The Crown in partnership with participating approved banks will support targeted new loans to small and medium businesses with annual revenue between $250,000 and $80 million. Eligible businesses can apply to their banks for loans up to $500,000, for up to 3 years.UNITE AGAINST COVID-19
China
Description of stimulus packageInstructions and informationContact
Exemption from re-guarantee fees.The National Financing Guarantee Fund is exempt from re-guarantee fees for guarantee services of 1 million yuan and below for a lender of a cooperative institution. In 2020, the re-guarantee fees will be halved for guarantee businesses of 1 million yuan and above.MINISTRY OF FINANCE
Canada
Description of stimulus packageInstructions and informationContact
Canada Emergency Business Account (CEBA).The Canada Emergency Business Account (CEBA) provides credit for small businesses to pay for immediate operating costs. It is available to Canadian employers with $50,000 to $1 million in total payroll in 2019, and operating as of March 1, 2020. Under CEBA, financial institutions will be able to provide interest-free credit facilities of up to $40,000 to eligible businesses. This program is available at various financial institutions and credit unions.DEPARTMENT OF FINANCE
EDC Loan Guarantee for Small and Medium-Sized Enterprises.This scheme allows financial institutions to issue operating credit and cash flow term loans of up to $6.25 million to existing clients, with 80 per cent guaranteed by EDC. This program is available at various financial institutions and credit unions.DEPARTMENT OF FINANCE