Regional banks boosting unsecured loans to small businesses – report
Regional banks are sharply increasing unsecured lending to small- and medium-sized businesses (SMEs) in response to
Atradius N.V. (Atradius) and The Tokio Marine & Nichido Fire Insurance Co., Ltd (TMNF) announced their intention to engage in a joint exclusive co-operation to develop export credit insurance business in Japan.
The unique bank established by the Tokyo Metropolitan Government provides swift financing to cash-strapped small- and medium-sized enterprises (SMEs).
The Ministry of Economy, Trade and Industry plans to expand its loan guarantee programme for small- and medium-sized enterprise (SMEs) to include loans made by finance and trust companies, the Nihon Keizai Shimbun reported without citing sources.
ShinGinko Tokyo Ltd., a bank set up by the Tokyo Metropolitan Government, will open for business on 1 April, said the Governor of Tokyo.
In a move to bolster business with small- and medium-sized enterprises (SMEs), UFJ Bank plans to provide a total of 650 billion yen (US$6.2bn) before the end of March to firms with annual sales of 1-3 billion yen.
Hachijuni Bank and the Development Bank of Japan have developed a new lending scheme in which a group of smaller businesses embarking on a joint venture assume joint and several liability.
The Ministry of Economy, Trade and Industry will create a legal framework that will make fund-raising easier for small and midsize businesses joining forces in production, marketing and other operations.