Targeted support to specific sectors
We now offer express disbursement service to safeguard the prompt procurement of raw materials for companies producing anti-coronavirus supplies, drugs, vaccines and testing kits as well as food and agricultural businesses and logistic companies. We’re actively approaching them to identify their banking needs, and are expanding credit support and providing preferential loans to these companies.
Double Lending Quota
We will double the lending quota provided to SMEs and micro companies by strengthening the cooperation with guarantors. Following the successful collaboration with Shanghai Administration Center of Policy Financing Guarantee Funds for SMEs to support local SMEs and micro companies in Shanghai,we are undertaking similar initiatives together with major local guarantors in Beijing, Guangzhou and Shenzhen. During the epidemic, in an active response to local governments policies supporting SMEs and micro companies, we are closely working with local guarantors to provide preferential solutions such as renewing loans without repayment of principal in Shanghai and reduced guarantee fees in Beijing. These joint measures serve to ensure abundant supply to credit for SMEs and micro companies to get through the epidemic smoothly.
Speedy approval -- dedicated “green channel” of loan approval
At the current critical stage of the epidemic, to ensure timely approval and disbursement of loans for SMEs and micro companies, we will advance the speedy approval process by setting up a “green channel” where dedicated credit approvers have been assigned to review loan applications to speed up the approval process for companies producing anti-coronavirus supplies, drugs, vaccines and testing kits.
Preferential lending rates will be offered to SMEs and micro companies that are directly involved in the fight against the epidemic, including those producing, transporting and selling anti-coronavirus drugs, medical supplies and daily supplies. Rates could be reduced by as much as 50 basis points to help reduce financial burden and minimise the impact on the macro economy.
Strengthened digital services
HSBC digital banking services are available through multi-channels including HSBCnet, mobile banking and WeChat banking, covering the service of payments, settlements, as well as trade transactions. These digital services will ensure the seamless interaction with our customers so as to help them overcome the financial difficulties. At the same time, we will offer a strengthened hotline service, addressing inquiries regarding our digital banking 24x7.