I run a small company that's been trading in HK for over 10 years - T/O is between HK$1.2 and 2.4 million p.a. We have full audited accounts from since the company started.
The business is cyclical, and this year is bad, so we approached our bank - which we've been with since the company started - for an unsecured working capital loan or government SME guarantee loan of HK$350,000, but we were turned down because we declared a small ($47k) loss last year to minimise tax liability this year.
I've tried other banks but they don't want to know, so does anyone have any suggestions for other routes to try to get an unsecured loan of between HK$150-350,000?
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Hi, you can try applying to the HKMC small business loan at 8% per annum, limit is 300k HKD.
Although you have to be a business that is 5 years or younger and be a HK permanent residence. I guess you can apply as a new business to overcome this issue. However the loan is essentially a personal loan which might not be what you are looking for.
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Hi MRCYNIC,
Could you please email me at nkcheung@paypal.com or call (+852) 2529 3921?
Thanks!
Kind regards,
Nick
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