Hang Seng Bank announced that it is the first bank in Hong Kong to launch a fully digital application and approval process for the government’s SME Financing Guarantee Scheme, featuring an 80% credit guarantee product, along with electronic identity verification and electronic signing of loan documents.
Effective immediately, Hang Seng SME customers can apply for this loan online and submit the required documents, with preliminary approval results available within as little as 10 seconds. The maximum loan amount can reach HKD 8 million.
In addition, through collaboration with the electronic payment platform KPay and the restaurant ordering platform DimOrder, Hang Seng allows customers to use alternative data to streamline the application process for unsecured SME loans under the ‘Hang Seng SME Loan’ program.
Li Sau-yi, Head of Commercial Banking at Hang Seng Bank, stated that the bank’s objective is clear: to provide SMEs with more convenient access to financing so they can focus on growing their businesses.
