A number of fraudulent syndicates suspected of having triad backgrounds used shell companies to falsely report the number of employees, fabricate false information, and collude with bank employees for allegedly defrauding 140 million yuan of "100% guaranteed preferential loans."
After in-depth investigation, the police finally arrested 56 people, including the main brains and key members of the case.
According to Hong Kong Mortgage Insurance Co., Ltd., which is responsible for managing the financing guarantee plan for SMEs, since the launch of the "100% Guaranteed Preferential Loan", more than 40,000 applications have been approved, benefiting more than 25,000 companies and more than 290,000 related employees. The amount approved was as high as 65.7 billion yuan.
Mo Ailan, Vice President of Hong Kong Securities Insurance Co., Ltd. (business operation of SME financing guarantee plan).
(Photo by Huang Weimin)
Mo Ailan, Vice President of Hong Kong Mortgage Insurance Co., Ltd. (SME Financing Guarantee Plan Business Operation) explained that the "SME Financing Guarantee Scheme" is managed by Hong Kong Mortgage Insurance Company Limited to assist SMEs in obtaining financing from participating banks. Cope with business needs.
In April last year, the government launched a "100% guaranteed special loan" under the "SME Financing Guarantee Program" to provide low-interest loans to small and medium enterprises affected by the new crown epidemic, and 100% guarantee provided by the government.
After the "100% Guaranteed Preferential Loan", more than 40,000 applications have been approved so far, benefiting more than 25,000 companies and more than 290,000 related employees.
Small and medium-sized enterprises must meet the following conditions when applying for loans:
1. Have substantial business operations in Hong Kong and be registered under the "Business Registration Ordinance", and have no outstanding arrears of more than 60 days.
Listed companies, lending institutions and affiliated companies of lending institutions are not eligible for application;
2. Have been operating in Hong Kong for at least three months before mid-2020, and must prove that any single-month turnover from February 2020 is higher than that of 2019 The average monthly turnover for any quarter from the beginning of the year to mid-2020 has fallen by 30% or more.
Mo Ailan pointed out that the maximum loan amount for each company is the sum of 18 months of employee salary and rent, or up to 6 million Hong Kong dollars, whichever is lower.
The maximum repayment period of preferential loans is 8 years, and companies can choose to repay interest and not repay the principal for up to 18 months.
The loan must be used to pay salaries and rent, and can also be used as emergency working capital. The loan interest rate is the prime interest rate minus 2.5%.
Mo Ailan reiterated that the "100% guaranteed preferential loan" aims to relieve the pressure on small and medium-sized enterprises affected by the epidemic, and reduce corporate failures and layoffs.
The insurance company will make appropriate checks on the application submitted by the bank.
Banks and insurance companies have been cooperating with law enforcement agencies. If they find suspected illegal activities, they will report to law enforcement agencies for help.
Fraud group falsely reported information, 140 million yuan "100% guaranteed preferential loan", 56 police detained
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