Unlocking Lending Opportunities for Businesses and Consumers to Stimulate Growth
In the face of ongoing economic challenges, individuals, small businesses, and households still encounter numerous obstacles when it comes to accessing loans for their ventures.
Recognizing the crucial role of small businesses and households in the economic landscape, the State Bank of Vietnam (SBV), during a conference on monetary policy and solutions to facilitate production and business growth held in March, asserted its commitment to closely monitoring market dynamics and economic conditions, both domestically and internationally. The SBV pledged to implement timely solutions to meet the capital demands of businesses and individuals, making it easier for them to access and expand credit for their production, business operations, and consumption needs.
Specifically, the SBV instructed credit institutions and banks to ensure safe and efficient credit growth, meeting the economy’s capital needs. They were directed to channel credit towards production and business activities in priority sectors and growth drivers. Additionally, these institutions were tasked with reviewing and simplifying loan procedures and documentation, expediting loan approval processes, and adopting flexible and legal collateral measures. Banks were also encouraged to diversify their credit products and services to cater to diverse customer segments, paying close attention to developing new credit products that align with the needs of consumers.
According to economic experts, lending activities for production and business operations are expected to gain momentum in the latter half of 2024 as the demand for capital increases across various economic sectors.
Meanwhile, Eximbank, one of the leading banks in Vietnam, has been actively promoting flexible credit packages for production and business activities. The bank is committed to supporting individuals, small businesses, and households, especially in overcoming challenges, expanding their operations, and enhancing their business efficiency.
Attractive Lending Packages Offered by Banks to Support Production and Business Goals
In response to the urgent capital needs, banks have been proactive in offering loan packages tailored for production and business purposes, aligning with the government’s initiatives to assist individuals, small businesses, and households. One notable example is Eximbank’s short-term production and business lending package, which offers attractive benefits to customers, including an incredibly competitive interest rate of just 4.75%/year. The standout feature of this loan package is its streamlined procedure, with loan approvals processed within eight hours, enabling borrowers to save time and take control of their production, business, and consumption plans. Additionally, Eximbank offers flexibility in business documentation of up to VND 7.5 billion and allows customers to choose repayment terms that align with their actual business situation.
Eximbank’s preferential loan package is designed with the primary goal of providing maximum support to individuals, small businesses, and households. Beyond facilitating easy access to capital, Eximbank also emphasizes the importance of professional financial consulting services to help customers effectively manage their finances and utilize their capital intelligently.
Mr. Tuan Anh, a small business owner in Ho Chi Minh City and an Eximbank customer, shared his experience: “For us, access to capital is the key to sustaining and growing our business. Thanks to Eximbank’s timely support through their preferential loan package, we were able to overcome challenges, expand our production, upgrade our equipment, and enhance our product quality.”
Another customer, Mr. Tran Khanh from Hanoi, also utilizing Eximbank’s loan package, echoed similar sentiments about the flexibility of the process and the swift loan approval timeline, which significantly eased the burden of accessing capital. This, in turn, enabled him to formulate more effective business plans, especially during the peak season towards the end of the year.
With the exceptional benefits offered by this loan package, Eximbank is confident that it will play a pivotal role in helping customers overcome difficulties, access the capital they need, and achieve a breakthrough in their businesses. This aligns with the bank’s commitment and goal, especially as it prepares to celebrate its 35th anniversary, marking a journey of unwavering dedication to serving its customers. The message, “Breakthrough without Limits,” embodies Eximbank’s relentless efforts and aspirations to deliver the best value to its customers and the community.
