Connecting to support businesses in accessing credit capital

Implementing the Prime Minister's direction on focusing on removing difficulties for production and business, promoting growth and stabilizing the macro-economy, the State Bank - Thanh Hoa Branch (SBV Thanh Hoa) has implemented many solutions to effectively manage credit activities to serve the economy. In particular, priority is given to supporting enterprises to access preferential loans to expand production and business, accompanying enterprises in development. Thereby, contributing to the completion of the province's socio-economic development targets.

Staff of Bac A Commercial Joint Stock Bank, Thanh Hoa Branch, introduces preferential credit packages for corporate customers.

With the motto of strong businesses, strong banks, since the first months of the year, the Bank for Agriculture and Rural Development - Nam Thanh Hoa Branch (Agribank Nam Thanh Hoa) has repeatedly reduced interest rates by 0.5 - 2% for more than 61,000 customers borrowing capital from the bank, with the interest amount reduced by more than 12 billion VND. In addition, the bank is also implementing many preferential loan programs with short-term interest rates from only 3%/year and medium and long-term loan interest rates from only 6%/year for each customer group.

Mr. Cao Van Son, Director of Son Lam Trading Service Company Limited, specializing in forest product processing, Quyet Tien village, Ngoc Phung commune (Thuong Xuan), said: "Never before has borrowing from a bank been so convenient and had such preferential interest rates as it is now. In recent times, the company's production and business activities have always been accompanied by banks. In recent months, the company's export orders have increased by about 20%, so the need for capital has also increased to be able to expand production scale. We have had Agribank Thuong Xuan - Nam Thanh Hoa officers directly come to survey the situation and guide us through the procedures for restructuring the debt repayment period with a credit limit of nearly 10 billion VND. The timely implementation of support policies such as debt extension, debt repayment period restructuring, and loan interest rate reduction... by the bank has contributed significantly to helping our business overcome difficulties to continue to stabilize and develop production and business effectively."

In recent times, to support businesses, the State Bank of Thanh Hoa has directed credit institutions in the area to drastically implement effective credit investment solutions. Therein, focusing on lending capital to production sectors, priority sectors; lending for agricultural and rural development; lending to small and medium enterprises; strengthening connections and dialogues with businesses and cooperatives, consulting and supporting on loan conditions and procedures, expanding loans to new customers; removing difficulties for old customers when facing difficulties. At the same time, maintaining the reception and handling of difficulties, problems, and recommendations via hotlines; regularly working with business associations, organizations, individuals, and credit institutions in the area to grasp information, proactively handling opinions and recommendations related to banking activities... As of mid-September 2024, the whole province had 4,693 enterprises borrowing capital from banks with outstanding loans of VND 54,362 billion. Banks also cut costs and lowered lending rates, specifically short-term lending rates for five priority sectors of commercial banks at 4%/year; short-term lending for production and business from 5.3%/year to 9.5%/year; medium and long-term lending from 5%/year to 13.4%/year; consumer lending from 5%/year to 13.4%/year. These are low interest rates compared to previous years. This creates great opportunities for businesses to access capital, reduce input costs, and invest in production and business effectively. Not only receiving preferential interest rates, businesses are also supported with consulting on cash flow management, operational management, building production and business development strategies to adapt to the actual situation; effective financial management on a digital platform... thereby improving the competitiveness and brand value of the business.

In particular, at this time, to support people and businesses affected by the recent storm No. 3, the State Bank of Thanh Hoa is directing credit institutions in the area to proactively review, clarify the extent of damage, summarize the damage of customers who are borrowing capital to promptly apply support measures, remove difficulties for customers, such as: restructuring debt repayment terms, considering exemption and reduction of loan interest rates, continuing to provide new loans to restore production and business after storm No. 3 according to current regulations... The State Bank of Thanh Hoa requires credit institutions to become a "support" for businesses, demonstrate responsibility to share, create conditions for businesses to recover, consider supporting interest rate reduction for customers, boldly provide loans for businesses to reproduce and do business...

In the coming time, the State Bank of Thanh Hoa will continue to direct credit institutions to implement solutions to improve credit access index, creating favorable conditions for businesses to access bank capital. Implement transparent lending processes and procedures, continue to improve, diversify, and optimize banking products and services, ensuring safety, efficiency, accessibility, and suitability for businesses, especially small and medium enterprises and start-ups. Focus on lending capital to production sectors, priority sectors, and sectors that help promote local strengths; promote lending to develop high-tech agriculture and clean agriculture according to the policies of the Government and the State Bank of Vietnam. At the same time, apply reasonable lending interest rates based on mobilization interest rates and loan risk levels, save spending, ensure financial safety, and share difficulties with businesses...

Article and photos: Khanh Phuong

Source: https://baothanhhoa.vn/ket-noi-ho-tro-doanh-nghiep-tiep-can-nguon-von-tin-dung-225565.htm