New virus Financial institution starts to support companies February 21 15:18
In response to the spread of the new coronavirus, financial institutions have begun to set up special consultation desks to support companies.
The government-affiliated financial institution's Commerce and Industry Chukin has set up special management consultation desks at all 99 business bases in Japan to provide temporary financing to small and medium-sized enterprises that are having difficulty financing due to reduced sales. Started. Loans have lower interest rates than usual, meaning that this month we are lending working capital and capital investment at 0.95% a year.
The Japan Finance Corporation and the Okinawa Development Finance Corporation also have consultation counters at their branches. The Japan Finance Corporation provides long-term loans of up to 48 million yen for small businesses and 720 million yen for small and medium-sized businesses. In addition to this loan facility, JBIC provides financing for working capital of up to 10 million yen for inns and restaurants. This means that members of the Health and Hygiene Association receive lower than normal rates.
In addition, Resona Bank and Bank of Yokohama have set up management consultation desks at branches in each region, calling on them to contact their nearest store.
In response to a request from the Financial Services Agency, the National Bankers Association will respond appropriately to banks in each region if they have consulted with a company affected by the new coronavirus about postponement of loan repayment. I'm calling.
Government funding support on a 500 billion yen scale
The government has decided to help small and medium-sized businesses, whose performance has temporarily deteriorated due to the spread of the new coronavirus, to raise ¥ 500 billion in cash.
Specifically, the government has eased the requirements for “safety net lending” by the government financial institutions, Japan Finance Corporation and the Okinawa Development Finance Corporation, and is expected to have an impact in addition to companies whose sales have already declined. Companies to be supported are also expanded.
Credit Guarantee Associations in each region will assist SMEs in obtaining loans from financial institutions. Guarantees 80% of debt if sales have decreased by more than 5% compared to the same period of the previous year, and 100% of debt if sales have decreased by more than 20% Implement "Safety Net Guarantee".
There are also subsidies and subsidies. Priority is given to “manufacturing subsidies”, “sustainment subsidies” and “IT introduction subsidies” to small and medium-sized enterprises that are affected by the supply network of parts, so-called supply chains, We will support the expansion of sales channels.
In addition, if business is reduced due to a decrease in tourists from China and other reasons, and employees are to be taken off leave, the requirements for the “employment adjustment subsidy,” which subsidizes part of the leave allowance, will be relaxed, and sales and tours will be reduced. Subsidize companies whose number of cases has decreased by more than 10% in the last month.