SMEs enjoy loan guarantees to build houses for workers

Small-and medium-sized enterprises (SMEs) will have access to loans guaranteed by the Bank of Investment and Development of Vietnam (BIDV) for building houses for low-income earners, under an amended Government decision.

Newly revised provisions in Decision 14/2009/QD-TTg, initially approved by Prime Minister Nguyen Tan Dung on January 21, aim to ensure enterprises with charter capital of less than VND20 billion or which employ fewer than 1,000 workers access to credit at commercial banks for such purposes as building housing for low-income workers and students, as well as cemeteries.

Loan guarantees would be revocable if loan proceeds were used for other than approved purposes.

All qualifying enterprises with overdue debts and which have been denied credit would now be ensured access to loans for investment projects if they have committed to paying off their outstanding debts.

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