VPBank has many preferential policies for specialized industries

Enterprises operating in fields such as pharmaceuticals, medical supplies and equipment, rice and textile industries, and enterprises buying/renting industrial park real estate receive many preferential policies from VPBank. This is one of the most active banks in the market providing preferential policies for enterprises in a variety of fields and industries.

With the advantage of being a pioneer bank in supporting SMEs, VPBank provides a series of solutions suitable for each industry, helping customers establish effective production and business plans, adapting to market fluctuations.

For example, the policy for enterprises operating in export processing zones, industrial parks, and industrial clusters (IPs, IZs). VPBank is the first bank in the market to implement a loan package for leasing/purchasing real estate for enterprises operating in these areas with interest rates starting from only 0.6%/month.

For businesses borrowing for the purpose of investment, construction, or factory repair, they will enjoy a principal repayment grace period of up to 18 months, helping businesses stabilize cash flow, reduce principal payment pressure to focus on construction, repair purposes, etc. For the purpose of supplementing working capital, there is an attractive interest rate mechanism, with preferential interest rate reductions compared to regular loans.

What is more special is that this preferential policy of VPBank accepts collateral as a lease/purchase contract of industrial park and industrial cluster real estate, with a loan limit of up to 70% of the contract value and a loan term of up to 20 years.

For production-business-supply enterprises in the rice industry, VPBank provides solutions for providing credit loans, issuing letters of credit, guarantees, discounts, overdrafts, factoring, etc.

Rice exporting enterprises with large revenue are granted a limit with the maximum unsecured limit value of up to 50 billion VND. At the same time, this limit will be increased to a maximum of 150 billion VND, in case customers add collateral as a future debt claim right.

For other supply and business enterprises, the corresponding rates are 10 billion VND for the unsecured limit value and 70 billion VND for the unsecured limit value with additional mortgage of future debt claims.

VPBank has also included support policies for enterprises operating in the textile and garment industry in its preferential list. Accordingly, from July 2024, textile and garment enterprises will be considered for a credit limit of up to VND 100 billion.

In case the enterprise has collateral as debt collection rights from output processing contracts, the limit is granted up to 80% of the contract value. If the enterprise mortgages real estate and land use rights, the limit is increased by 10%.

Loan approval purposes are very diverse, from purchasing machinery and equipment, investing in factories to supplementing working capital, all are approved for high limits at VPBank.

The pharmaceutical, medical supplies and equipment sector also received special “support” from VPBank. For businesses with a long history of operation, the maximum credit limit value granted is equivalent to 20% of the revenue of the previous year, up to 50 billion VND or up to 100 billion VND (if the business provides additional collateral assets in the form of future debt claims).

Enterprises can choose a credit solution that suits their business operations, such as using bid security products when participating in annual bidding for drugs and medical equipment, or issuing letters of credit, guarantees, and factoring for the supply of drugs, supplies, and medical equipment to hospitals.

With the factoring financing package, businesses can propose financing up to 95% of the invoice value, or bid bonds, contract performance bonds (with an approved TSBD deficiency rate of up to 100%). In particular, if using the LC (letter of credit) issuance product, businesses only need to deposit 5-10%.

“From experience in providing financial services as well as understanding the needs of the business sector, VPBank has perfected outstanding policies for its products.

Operational experience and a highly capable and combative sales team have helped VPBank not only confidently implement the best policies on the market but also effectively control risks. In the future, the more flexible a financial institution is in its product policies, the more opportunities it will have to dominate the market," said a VPBank representative.