Hong Kong receives 1,473 applications for SME scheme

The scheme’s popularity prompted total loan guarantee commitment to rise by $10bn.

The Trade & Industry Department has approved 1,473 applications, involving a total loan amount of $3.56 billion, under the SME loan guarantee scheme.

Secretary for Commerce & Economic Development Gregory So told legislators Wednesday the department received 1,580 applications from January to October, according to a government report.

Because of the scheme's popularity, Mr So said the total loan guarantee commitment will rise from $20 billion to $30 billion.

The scheme helps SMEs cope with the changing economic environment.