Businesses have difficulty accessing loans
Mr. N.T.T - director of an agricultural production and processing enterprise (in Buon Ma Thuot city) - said: "My enterprise was established just over a year ago. Two months ago, I asked some banks to mortgage the coffee warehouse (rented by the company) with an output of 100 tons to borrow about 300 million VND but was rejected".
"Newly established, young businesses like us really need capital to develop. However, businesses have difficulty accessing credit loans from local banks because regulations are increasingly strict, making it very difficult to disburse," said Mr. T.
Mr. Pham Dong Thanh - Director of An Phuoc Auto Transport Company Limited, former Chairman of Dak Lak Province Young Entrepreneurs Association - stated: "In the period of 2021 - 2024, when I was Chairman of the Provincial Young Entrepreneurs Association, many members had difficulty accessing bank credit loans".
According to Mr. Thanh, many businesses encounter many barriers and obstacles when applying for loans. Because newly established businesses lack collateral, or the collateral is not guaranteed.
The company wants to borrow credit capital but the financial report is incomplete and unconvincing. The business plan is sketchy and does not show the cash flow to ensure debt repayment...
Meanwhile, banks control information and data on revenue and after-tax profits of businesses from many different sources...
"This is also one of the main reasons why many businesses in the area have difficulty accessing credit loans from banks," Mr. Thanh shared.
Part of the banks' responsibility
According to the State Bank of Vietnam, Dak Lak branch, by December 31, 2024, the total outstanding loans to the economy are estimated to reach VND 167,500 billion, an increase of 10.33% (an increase of VND 15,678 billion) compared to the beginning of 2024.
As for outstanding debt by type of organization and individual, in the enterprise sector it is 32,000 billion VND, accounting for 19.52%. Meanwhile, in the household business and individual sector it is about 134,000 billion VND, accounting for up to 80.15%.
A bank branch leader (located in Buon Ma Thuot city) expressed his opinion: "Banks in the province are still focusing on retail (personal loans) to disperse risks. If banks lend to businesses, they also target small and micro customers.
It is very difficult for newly established businesses to access loans because their financial data is not transparent and does not meet the lending criteria of banks. Many units do not have assets to secure loans or the collateral is not legally sufficient.
According to the leader of this bank, the fact that businesses have difficulty accessing loans also has a large part of the responsibility from banks.
For example, in recent years, banks have issued credit cards indiscriminately to individuals for loans, leading to many overdue loans of more than 9 days. The reason is that banks issue credit cards to get targets, run periodic sales...
This leads to unused credit cards and overdue annual fees, which means that when a loan arises, it does not meet the criteria (even for individual business owners - PV).
Mr. Nguyen Kim Cuong - Director of the State Bank of Vietnam, Dak Lak province branch - said: "In 2025, the unit will implement solutions for safe and effective credit growth. In particular, focusing on production and business sectors".
"The unit also strictly controls credit in areas with potential risks. Thereby, creating favorable conditions for people and businesses to access bank credit capital to serve production and business," Mr. Cuong added.
