Hang Seng Bank launches HK$33 billion loan fund, 8,000 small and medium-sized enterprises have been pre-approved

Hang Seng Bank recently launched a HK$33 billion loan fund aimed at supporting the development of small and medium-sized enterprises. It is reported that 8,000 small and medium-sized enterprises have been approved in advance, which will help them cope with the various challenges they currently face.

Challenges faced by Hong Kong SMEs

Li Xiuyi, director of commercial banking at Hang Seng Bank, pointed out that Hong Kong SMEs are currently facing five major challenges. The first is insufficient cash flow, which is a common problem for many companies. Secondly, business recovery after the epidemic is slow and more support and funds are needed to restore business.

Challenge One: Insufficient cash flow

Many small and medium-sized enterprises have been hit hard during the epidemic, and insufficient cash flow has become a major problem for them. Hang Seng Bank’s loan fund will provide these businesses with much-needed financial support to help them tide over the difficult times.

Challenge 2: Business recovery is slow after the epidemic

The epidemic has had a serious impact on Hong Kong's economy, and the business recovery of many companies has been slow. Hang Seng Bank's loan fund will provide financial support to these companies to help them accelerate the pace of business recovery.

Challenge 3: Increased operating costs

As the epidemic continues to impact, many companies are experiencing increasing operating costs. Hang Seng Bank's loan fund will provide financial support to these enterprises to help them cope with the pressure of rising operating costs.

• Challenge 4: Demand for green transformation
• Challenge 5: Business expansion in the Greater Bay Area