ABBANK rolls out two preferential credit packages for micro businesses. — Photo courtesy of the bank

An Binh Commercial Joint Stock Bank has rolled out two new credit products for microbusinesses.

Businesses with revenues of VND25 billion (US$1.08 million) or less last year and those that transformed from household or individual businesses or start-ups can opt for the SSE Biz Loan with a margin rate when issuing letters of credit and zero guarantee or SSE Flex with flexible collateral rules including loans of up to 60 per cent of the credit limit without collateral.

Both products offer a credit limit of up to VND10 billion ($432,259) and 99 per cent of the value of the collateral and a maximum credit term of 120 months.

A bank spokesperson said: “Whether or not there is a Covid-19 pandemic, ABBANK always has many preferential policies for small, medium and small enterprise customers to … solve their urgent finance needs.” — VNS