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The Trade & Industry Department has received 26,722 loan applications from participating lending institutions in the SME Loan Guarantee and the Special Loan Guarantee Schemes.
A total of 24,402 applications have been approved, involving a total loan amount of $60.3 billion. The companies employ more than 260,000 staff.
According to a paper the department submitted to lawmakers today, 36 participating lending institutions have joined the SME Loan Guarantee Scheme.
As at November 8, at had received 1,663 loan applications, of which 1,450 had been approved, involving a total loan amount of $5.3 billion. The department has received six default claims, involving a total claim amount of $13 million.
The application period for Special Loan Guarantee Schemes has been extended to June 30. Forty-six lending institutions have signed up for the scheme.
As at November 8, it had received 25,059 special loan applications, of which 22,952 applications had been approved, involving a total loan amount of more than $55 billion. Twenty default claims have been received so far, involving a total claim amount of $31.9 million.
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