Announcement of SME financing support case Encourage financial institutions to respond Financial Services Agency March 27 21:20
The Financial Services Agency has been providing active support from various parts of the world, including an effort to postpone loan repayment on Friday, so that financial institutions can fully support small and medium-sized businesses facing the severe situation due to the spread of the new coronavirus. He published a case study and urged financial institutions to take even stronger action.
According to the Financial Services Agency, by the middle of this month, more than 200,000 consultations have been received from small and medium-sized enterprises to banks and shinkin banks nationwide, and support from financial institutions has become extremely important to support the local economy .
The Financial Services Agency published examples of active support that had begun in various places on the 27th to strongly encourage financial institutions throughout the country to support SMEs in raising cash.
In this case, for loans to which financing and orders have declined significantly, one-year repayment of the repayment of principal and interest rates has been suspended, and loans to companies whose repayment prospects have become unreliable have been borrowed for about half a year. Initiatives to consider rebuilding measures.
It also introduces a mechanism for responding to a loan application in the shortest time on the same day, and at the most within three business days.
The Financial Services Agency has issued a law-based order to banks and shinkin banks nationwide to respond flexibly to changes in lending conditions for small and medium-sized businesses that are having difficulty raising cash or to report regularly.
We will announce next month how financial institutions responded by the end of the year.