VIB offers fast-track loans for SMEs

July 18, 2016 | 09:00

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The Vietnam International Bank, one of leading commercial joint stock banks in Vietnam, just launched a new campaign for fast-track loans to small- and medium-sized enterprises (SMEs) which may be approved within 48 hours of submission of all documents.

The programme is part of the bank (VIB)’s strategy to prioritise corporate loans and offer SMEs easy and flexible banking products to help them gain more business opportunities.

Accordingly, SMEs which need short-term loans for their production and business activities, can access VIB credit packages with a preferential interest rate. The firms can receive loans worth up to 80 per cent of their value of mortgage assets.

In order to facilitate corporate customers, VIB has also launched other outstanding banking services such as payment accounts, property insurance, online banking services and SMS banking.

Corporate customers, who use one of these services, can enjoy preferential interest rates and get consultancy on suitable business solutions besides other attractive benefits and incentives.

“SMEs are our core customers. Therefore, we have focused on developing products and services to best serve this customer segment,” said Vuong Thi Huyen, VIB head of wholesale banking.

“We believe that the bank’s fast-track loans will help SMEs expand their production and business activities, sharpen their capacities in current competitive business environment,” Huyen added.

Besides the fast-track loans, VIB is offering a preferential interest rate of 7.15 per cent for business' automobile loans in the first six months.

From now until the end of September, enterprises can take a loan for a maximum term of 60 months and borrow up to 80 per cent of the vehicle's value.

Meanwhile, the bank’s soft loans and 20 per cent reduction in trade financing costs are also available for enterprises in the textile and garment sector until December 31.

Last year, VIB was honoured as the ‘Leading SME Trade Bank” by the Asian Development Bank for its efforts in financing import-export enterprises as well as improving their productivity and competitiveness in the market

As a leading bank in trade finance for SMEs, VIB was the first bank in Vietnam to win this award.

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