The Hong Kong Monetary Authority (HKMA) has announced significant enhancements to the Small and Medium Enterprises (SME) Financing Guarantee Scheme to support businesses undergoing economic restructuring. Borrowers under the scheme will now be eligible for a principal moratorium on existing and new loans of up to 12 months. Additionally, maximum loan guarantee periods for the 80% and 90% Guarantee Products have been extended to ten and eight years respectively. The HKMC Insurance Limited, a subsidiary of HKMA responsible for administering the scheme, is set to coordinate with lending institutions for the implementation of these measures by November 2024.
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