Shinhan Bank Vietnam launches SOHO loans for small businesses

Tuesday, Apr 26, 2022 17:40

Shinhan Bank’s SOHO loan package for small businesses meets their short-term working capital demand and help expansion. — Photo courtesy of the bank

Shinhan Bank Vietnam Ltd. has introduced a new loan product for business households, private enterprises and micro enterprises to meet their short-term working capital demand and help expansion.

The loan package offers customers attractive interest rates, high loan limits and flexible repayment terms, it said in a release.

With SOHO operation loan, customers can get an interest rate of 5.8 per cent, a loan limit of up to 100 per cent of working capital requirement, repayment period of up to nine months for each drawdown, and flexible disbursement-repayment plans. There is no penalty for early repayment.

SOHO Facility Loan provides medium- and long-term lending solutions for business expansion. The interest rate starts at 6.85 per cent, the loan limit is 80 per cent of capital requirement, the tenor is up to 15 years, and there is no penalty for early repayment from the third year.

Kang GewWon, CEO of Shinhan Bank Vietnam, said: “SOHO Loan is a remarkable milestone for Shinhan Bank Vietnam in 2022 … and would be a perfect product to upgrade our lending portfolio.” — VNS

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