| Examination of Estimates of Expenditure 2012-13 |
Reply Serial No.
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CONTROLLING OFFICER’S REPLY TO
INITIAL WRITTEN QUESTION
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CEDB(CIT)048
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Question Serial No.
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1772
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Head :
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152 Government Secretariat:
Commerce and Economic
Development Bureau (Commerce,
Industry and Tourism Branch)
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Subhead (No. & title) :
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Programme :
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(2) Commerce and Industry
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Controlling Officer :
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Permanent Secretary for Commerce and Economic Development
(Commerce, Industry and Tourism)
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Director of Bureau :
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Secretary for Commerce and Economic Development
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Question :
It is stated in paragraph 36 of the Budget Speech that the Government will enhance the existing Small and Medium Enterprises (SME) Financing Guarantee Scheme.
Please provide the following information on the SME Financing Guarantee Scheme since its introduction last year.
(a) the number of applications approved under the Scheme;
(b) the band of loan approved for each application; and
(c) the percentages of various loan guarantee ratios offered and various rates of annual guarantee fee charged in the total number of applications approved.
Asked by : Hon. LEE Wai-king, Starry
Reply :
The Hong Kong Mortgage Corporation Limited (HKMC) introduced a market-oriented and sustainable Small and Medium Enterprises (SME) Financing Guarantee Scheme (SFGS) on 1 January 2011. The Scheme facilitates SMEs in obtaining finance from banks and helps reduce banks’ lending risks, thereby contributing to the stability of our banking system. As at 31 January 2012, HKMC has received 250 applications and approved 246 applications under the SFGS. The approved applications involve a total loan amount of around $840 million and a total guarantee amount of around $560 million. The remaining applications are under processing.
The breakdowns by loan amount, loan guarantee ratio offered and annual guarantee fee rate of approved applications under SFGS as at 31 January 2012 are set out in Tables 1-3 below respectively -
Table 1：Breakdown by Loan Amount
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Loan Amount
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Number of Applications Approved
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Total__246__100%____Table_3_：'>Total__246__$840_million____Table_2_：'>Total Amount of Loan Approved
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Below HK$1 million
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69
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$50.9 million
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>HK$1 million up to HK$3 million
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90
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$196.1 million
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>HK$3 million up to HK$8 million
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69
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$385.5 million
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>HK$8 million up to HK$12 million
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18
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$207.5 million
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Total
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246
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$840 million
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Table 2：Breakdown by Loan Guarantee Ratio Offered
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Loan Guarantee Ratio Offered
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Number of
Applications Approved
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% Against Total
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50%
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57
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23.2%
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60%
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9
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3.6%
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70%
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180
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73.2%
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Total
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246
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100%
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Table 3：Breakdown by Annual Guarantee Fee Rate *
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Annual Guarantee
Fee Rate
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Number of
Applications Approved
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% Against Total
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>0.5% up to 1.0%
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25
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10.2%
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>1.0% up to 1.5%
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78
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31.7%
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>1.5% up to 2.0%
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91
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37.0%
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>2.0% up to 2.5%
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48
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19.5%
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>2.5% up to 3.0%
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4
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1.6%
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Total
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246
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100%
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* Annual guarantee fee rate x loan amount = Annual guarantee fee payable. Annual guarantee fee rate depends on the annual interest rate of the loan and the loan guarantee ratio offered.
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Signature
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Name in block letters
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Andrew HY WONG
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Post Title
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Permanent Secretary for Commerce and
Economic Development
(Commerce, Industry and Tourism)
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Date
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29.2.2012
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