03/05/2024
Mobio Enterprise Loans
💡Mobio Enterprise Loans can provide an alternative source of finance for both start-up and established businesses across Viet Nam, who are unable to secure all their funding requirements from the banks and/or other mainstream sources.
✨Ranging from VND 100,000,000 to VND 2,000,000,000 Enterprise loans can be used for a variety of purposes which include additional capital or headroom in cash flow where additional bank support is unavailable and/or to provide gap funding for growth and development projects as part of a syndicated package.
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✨Loan characteristics:
- For early stage and established businesses, typically with a minimum of 3 employees.
- New/start-up business considered if viability can be demonstrated.
- Sole traders, partnerships or limited companies may apply.
- Charities and Social Enterprises may also apply.
- Can be used for any legitimate and legal business purpose including:
Working capital
Purchase of equipment or machinery
Business expansion
- Business assets considered as security if available.
- Enterprise Finance Guarantee Scheme will usually be considered.
- Personal guarantees from the director(s) (unsupported) are usually required for limited company lending.
- Maximum loan value VND 2,000,000,000
- Interest rate parameters 9% – 15% over State Bank of Vietnam base rate, calculated on reducing balance.
- Arrangement fee 3%
- Term of loans:
3 year repayment for loans up to VND 2,000,000,000
Longer term considered for higher values (subject to maximum 7 years).
✨Application process:
- A completed Enterprise Loan Application Form should be accompanied by a Client Declaration form.
- Applications must be supported by a business plan (an extended Executive Summary might be considered acceptable for established businesses): financial forecasts should be included.
- Annual accounts for established businesses will be required along with Management Accounts for the current year.
- An initial enquiry with a Finance For Enterprise Lending Manager is welcomed to help verify viability.
