New Corona Private interest-bearing, unsecured lending begins May 12, 12:19
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Due to the spread of the new coronavirus infection, a system that allows small and medium-sized enterprises and sole proprietors, whose sales have decreased, to receive loans from private financial institutions with virtually no interest and no collateral began. Banks and credit unions have begun to take measures such as introducing the system to their business partners immediately.
This system started as one of the government's financial support measures, and SMEs and sole proprietors whose sales have decreased due to the spread of infection can receive loans with virtually no interest for up to 30 million yen for 3 years.
Acceptance began at private banks and credit unions around the country from the 1st, and at Kanagawa Shinkin Bank, which is based in Kanagawa Prefecture, the sales staff immediately explained the system mechanism to the manager of the company that visited the store, I called the business partners and encouraged their use.
Loans with virtually no interest and collateral to support the financing of companies and sole proprietors have already begun at the Japan Finance Corporation.
However, because the application is flooding and it takes time to process, the issue is how quickly the funds can reach SMEs by starting a loan at a private financial institution.
Kiyotaka Takase, General Manager, Yokohama Sales Department, Kanagawa Shinkin Bank, said, "Since there are a lot of applications for loans to government-affiliated financial institutions, we would like to cooperate with the private sector to support businesses."