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Small Business funding

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  1. #1

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    Small Business funding

    How easy (or not) have you guys found getting funding for small businesses?

    (By small, I mean turnover in the 5-10 million HKD pa)

    Are there any banks that are "better" than others?
    Does it have to be the bank you do your normal banking with?
    Do they require personal guarantees? Any that don't?

    All views much appreciated.


  2. #2

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    BUMP!


  3. #3

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    Have you check these schemes out?

    GovHK: Government Funding Schemes

    Unless you have assets (i.e. either director's guarantee or physical company assets) it is pretty difficult to get unsecured funding in HK.

    MovingIn07 likes this.

  4. #4

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    This one might be interesting .. PSDAS - Eligible Professional Service Sectors

    (Edited: never mind .. it is for non-profit distributing bodies... not sure what that means..)


  5. #5

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    Quote Originally Posted by MovingIn07:
    BUMP!
    Easiest is UA Finance. Be warned though, the very easy money comes at a price and unless you're very disciplined you will be paying off interest on your interest. They really are very easy to get money from though....

  6. #6

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    Also, here's a contact list of various banks ...

    SME Loan Guarantee Scheme


  7. #7

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    Quote Originally Posted by shri:
    Have you check these schemes out?

    GovHK: Government Funding Schemes

    Unless you have assets (i.e. either director's guarantee or physical company assets) it is pretty difficult to get unsecured funding in HK.
    That SME Guarantee Scheme looks interesting. I'll check it out. thanks

  8. #8

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    Quote Originally Posted by shri:
    (Edited: never mind .. it is for non-profit distributing bodies... not sure what that means..)
    That would probably be us in reality but perhaps not our intention!!!
    bryant.english likes this.

  9. #9

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    The Triads have excellent loan services with no pre-approval needed.

    Only thing is their interest rates are extortionary and when you default they charge you an arm and a leg.


  10. #10

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    Quote Originally Posted by bryant.english:
    Easiest is UA Finance. Be warned though, the very easy money comes at a price and unless you're very disciplined you will be paying off interest on your interest. They really are very easy to get money from though....
    These guys look like loan sharks to me. You can apply for a loan without the amount of interest ever popping up (I just tried). I cannot believe that is legal here!

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