HDBank offers FIEs collateral-free loans

June 16, 2014 | 17:00
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The Ho Chi Minh City Development Bank (HDBank) is offering collateral-free mid-term loans to foreign-invested enterprises between June 5 and September 30.

HDBank in Ho Chi Minh City illustration photo

Qualified FIEs will have access to the loans for factory construction and upgrades, machines, equipment, and material purchases, and the loan can only come to 70 per cent of the total cost. T

he funding is available in either dong or dollars, with a maximum term of 18 months. The programme’s total credit to be disbursed is VND500 billion ($23.8 million).

The dong interest rate is 12 per cent per annum for the first six months, and for dollars 5 per cent. In the months following the programme, the rates will follow those set by the bank at any given time.

By By Tuong Thuy

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