Bank of China (Hong Kong) Limited ( BOCHK ) announced the launch of BOC Small Business Loan and a host of promotional offers to help SMEs capture business opportunities and facilitate their business growth.
BOC Small Business Loan provides customers with a choice of instalment loan, revolving loan or a combination of both. It offers one-hour preliminary approval service with no collateral required. The loan amount is up to HK$2 million with a repayment period of up to 60 months at a preferential interest rate of as low as P+2% per annum. SMEs which have been established for six months or above are eligible to apply. In addition, the balance transfer service allows customers to consolidate their outstanding loans from other financial institutions into BOC Small Business Loan, saving customers interest expenses.
From now until 31 August 2014 ( promotional period ), new or existing Business Integrated Account ( BIA ) customers will have a chance of winning cash coupons worth HK$300 or a six-month interest-free offer at the Prize Guaranteed Lucky Draw, upon successful application and drawdown of BOC Small Business Loan, or by increasing the utilised amount of the loan to HK$500,000 or above. During the promotional period, customers who set up BIA accounts and subscribe for designated banking services can enjoy rewards worth over HK$5,000 and up to 50,000 credit card gift points. Customers who apply for balance transfer service will enjoy an additional lucky draw entry.