In the context of public investment continuing to be a lever for economic growth, the financial needs of construction contractors are increasing. Understanding this trend, VietinBank has deployed a comprehensive financial solution dedicated to prime contractors or joint-venture contractors implementing projects with capital from the state budget, both central and local, as well as projects using ODA and preferential loans from foreign donors.
Untying the Knot on Collateral
One of the biggest challenges for contractors today is the issue of collateral when accessing loans. The specificity of the construction industry often leaves businesses struggling due to a lack of fixed assets of sufficient value to serve as collateral. Embracing the philosophy of accompanying our customers, VietinBank implements a policy of accepting only the “right to claim” from construction contracts as collateral, instead of requiring independent assets such as real estate or equipment.
This solution helps reduce the burden of collateral, opening up easier access to capital, especially for small and medium-sized enterprises. This move clearly demonstrates VietinBank’s spirit of putting “customers at the center” in its lending activities.
Waiving 100% of Bid Bond Fees – Enhancing Competitiveness
Going beyond mere credit extension, VietinBank also implements a policy of waiving 100% of the issuance fees for bid bonds for eligible contractors. Amid rising financial costs, this policy significantly reduces the cost of participating in bidding processes, helping businesses enhance their competitiveness and expand their chances of winning bids for key national and local projects.
In addition, VietinBank provides all necessary types of guarantees for construction, including performance bonds, advance payment guarantees, and warranty bonds. We also support businesses with payment solutions, cash flow management, and customized financial consulting services.
Reputation and Capacity for Mutual Development
As a leading commercial bank, VietinBank possesses extensive experience in financing numerous key infrastructure projects nationwide, especially those funded by the state budget and ODA. Our extensive network, streamlined lending processes, and team of experts specializing in the construction field form the foundation for VietinBank’s commitment to accompany contractors throughout all project stages.
The comprehensive financial solution for the public investment construction industry by VietinBank serves not only as a capital support tool but also as a “financial lever” to accelerate the progress of key infrastructure projects.
For more details, businesses can contact their nearest VietinBank branch or our dedicated Business Customer Hotline: 1900 558 886.
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