Tung Chee Hwa, chief executive of the Hong Kong Special Administrative Region (SAR), has announced his decision to accept all the recommendations of the Small and Medium Enterprises Committee (SMEC) on means to further enhance the effectiveness of the current SME funding schemes.
For the SME Business Installations and Equipment Loan Guarantee Scheme, the scope of government's guarantee will be expanded to include working capital loan, in addition to business installations and equipment loan.
The government will also increase the grant for the SME Export Marketing Fund scheme and the SME Training Fund scheme.
An SME may receive a maximum amount of guarantee and grant of 4.07m HK dollars (521,000 US dollars) under the three improved schemes, compared to 1.025m HK dollars (131,000 US dollars) under the existing schemes.
