Small-to-medium businesses can now apply for a loan with HSBC by simply providing a copy of their MPF contribution statement and rental receipt.
HSBC's new Small Business Loan has eliminated lengthy loan application procedures, does not require collateral backing or financial documentation and companies can obtain loan approval as quickly as within 48 hours.
HSBC's Small Business Loan allows SMEs to obtain a loan of between HK$50,000 and HK$300,000 at an interest rate of as low as 0.25 per cent flat per month.
A handling fee of 1 per cent of the loan amount will apply per annum.
Customers can flexibly select loan tenures of between 6 and 24 months.
No collateral backing or documents showing financial performance are required.
The simple application process only requires companies to show their most recent rental receipt and an MPF contribution statement.
