Taiwan's Small and medium Business Credit Guarantee Fund (SMBCGF) reported yesterday that a number of banks are to start providing a combined T$1.5bn in lines of credit to small and medium-sized Taiwan-based enterprises on August 1 2001. Participating banks include Chiao Tung Bank, Taiwan Business Bank, and Taiwan Cooperative Bank. The banks are to offer up to T$100m in lines of credit to individual enterprises, at a preferential interest rate of 5.7 per cent. The SMBCGF announced that the lines of credit offered to individual enterprises are to account for no more than 70 per cent of the amount required by the enterprises to fund their projects.
Source: FT