“MB Offers Continued Support to SMEs with Attractive Lending Rates”

Financial Challenges Hinder SME Growth

In Vietnam, small and medium-sized enterprises (SMEs) account for 98% of the total number of businesses in the country and play a crucial role in employment and contributing to state revenues. However, in a context where large enterprises have to cut costs, market demand decreases, and competition intensifies, 2024 remains a challenging year for SMEs.

Access to and use of capital is hindering the growth of these enterprises. A report from the training program “SME Credit Rating, Enhancing Capital Access” by the Association of Small and Medium Enterprises in late March 2024, revealed that SMEs face challenges in accessing credit due to a lack of collateral, low asset values, and low loan-to-value ratios of around 50-60%. Especially, SMEs struggle to obtain unsecured loans due to low project feasibility, unreliable financial reports, and a lack of business plans and financial forecasts.

Recognizing the important role of SMEs in the economy and their current challenges, many banks have introduced supportive policies to help businesses easily access capital, optimize costs, and overcome financial obstacles. Recently, Military Commercial Joint Stock Bank (MB) offered preferential interest rates and quick loan processes with a streamlined, paperless procedure entirely conducted online via the BIZ MBBank application.

Quick and Efficient Lending Solutions for SMEs

MB’s interest rate adjustments can significantly reduce financial pressure on SMEs, providing them with opportunities to develop their production and business activities. In their latest promotional program, MB is offering interest rates as low as 0.54%/month for businesses using the Online Credit Limit product on the BIZ MBBank app. Through this preferential interest rate, MB reinforces its pioneering position in the market by providing practical benefits to SMEs, helping them optimize operating costs and seize business opportunities.

With the Online Credit Limit product on BIZ MBBank, SMEs can also experience a fast, easy, and convenient online lending process. Thanks to features like same-day limit approval, immediate disbursement, super-fast online guarantee letter issuance within 4 hours, and unsecured loans of up to VND 1 billion, businesses can save time and costs, increase labor productivity, and boost business growth during the economic recovery phase.

MB is joining forces to support SMEs in overcoming financial challenges

In addition to financial incentives to help SMEs optimize operating costs, MB also focuses on digital transformation by integrating modern and flexible features into the BIZ MBBank app. This is evident in the Online Disbursement service, which stands out for its immediate disbursement advantage. This service is also highly regarded by SMEs for its diverse disbursement purposes (domestic trade, salary, utilities, etc.), same-day approval with an automatic flow, and unsecured credit of up to VND 1 billion. With 100% digitization on BIZ MBBank, businesses can initiate loan requests and upload loan documents without submitting physical paperwork. In fact, Online Disbursement effectively meets the needs of businesses looking for quick, efficient, and simple capital rotation solutions with a proactive and super-fast disbursement process to unblock capital flow and enhance competitiveness and business performance.

Starting today, SMEs that open a BIZ MBBank account can easily experience the Online Credit Limit and Online Disbursement products and discover more utilities here.