Replies to initial written questions raised by Finance Committee Members in examining the Estimates of Expenditure 2012-13 Director of Bureau : Secretary for Commerce and Economic Development Session No. 12 File name : cedb(cit)- doc
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- Examination of Estimates of Expenditure 2012-13
Question : In the past, many travel agencies revealed to me that the application procedures of the SME Loan Guarantee Scheme (the scheme) were too complicated and the processing time too long on a number of occasions. Quite a number of small and medium sized travel agencies even did not know such a loan guarantee scheme had been introduced by the Government. Tourism is one of our pillar industries that provide many jobs. Enhancing the promotion of the scheme is beneficial to the overall development of the tourism industry. How will the Bureau strengthen its efforts in promoting the scheme to the SMEs related to tourism in the new financial year? Will the application procedures be streamlined and the processing time shortened? Asked by : Hon. TSE Wai-chun, Paul Reply : The SME Loan Guarantee Scheme (SGS) is administered by the Trade and Industry Department (TID). TID has been promoting the scheme through various channels, including TID’s website and publications (e.g. “SME Pulse” published biennially), pamphlets, TV and radio advertisements, etc. TID also conducts briefings and seminars from time to time, and participates in relevant activities organised by other organisations, with a view to promoting the scheme to the small and medium enterprises (SMEs) and introducing to them the content and application details. TID also participates in relevant exhibitions, such as the annual World SME Expo, so as to reach out to more SMEs of different sectors and promote the scheme to them. TID will continue to review from time to time the publicity efforts, with the aim of promoting the scheme more effectively. Regarding the application procedure of SGS, SMEs have to submit applications to TID through the participating lending institutions (PLIs). The PLIs will adhere to prudent and professional principles in assessing the applicant enterprises’ financial status, need for loan, business outlook and ability to repay, etc before deciding whether loans would be approved to the applicant enterprises with loan guarantee to be provided by the Government. There are now 38 PLIs. After TID has received a confirmed application with complete information from the PLI, TID would in general complete processing of the application and provide a reply within 3 working days. In 2011, the processing of all applications could be completed within 3 working days. We will review the relevant procedures from time to time and endeavour to simplify the application procedures and shorten the processing time as far as practicable.
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