Don't let businesses with good business plans lack capital.

Increasing proactiveness, demonstrating responsibility, and sharing with the difficulties of enterprises, in recent times, the banking industry has proposed many solutions to connect banks and enterprises, thereby affirming itself as an important and effective capital channel to help enterprises access reasonable and preferential loans to overcome difficulties, stabilize and develop production.

BIDV Vinh Phuc staff consult on preferential loan packages, ready to provide capital for businesses and business households that need to expand production and business.

With the motto of always accompanying enterprises to overcome difficulties, not allowing any enterprise with good business plans to lack capital, right from the beginning of the year, the State Bank of Vietnam (SBV) Vinh Phuc branch has directed credit institutions (CIs) to effectively implement the Bank - Enterprise connection program, the market stabilization program to remove capital difficulties for production and business activities of enterprises, contributing to promoting the economic growth of the province.

By the end of September, the provincial State Bank had organized 6 conferences connecting banks and businesses in the province. Through that, it helped banks bring capital into production and business sectors, improve capital use efficiency, and achieve the set credit growth target.

Through the Bank - Enterprise connection program, since the beginning of the year, credit institutions in the province have disbursed new loans and restructured loans to 1,450 enterprises with outstanding loans reaching more than VND 19,800 billion.

By the end of August 2024, the total mobilized capital of the whole province reached more than 126,238 billion VND, an increase of 11.25% over the same period in 2023; total outstanding loans reached more than 134,602 billion VND, an increase of 13.45% over the same period in 2023.

Mr. Hoang Duy Chinh, Director of the Provincial State Bank, said: The Bank - Enterprise Connection Program has had a positive effect in removing difficulties, supporting enterprises to reduce costs, gradually stabilizing capital, maintaining production and business activities, opening up investment and development opportunities...

The program has received support from local government leaders; departments, branches and sectors regularly coordinate with the banking sector to dialogue and find solutions to remove difficulties for businesses and the market.

Credit institutions regularly implement solutions to reduce lending interest rates; offer flexible credit programs suitable for many customer groups; regularly grasp market information and State policies to promptly have solutions to develop business and support capital for enterprises.

Accordingly, outstanding loans to businesses by the end of August 2024 are estimated to increase by 5.47% compared to the end of 2023 (a growth rate higher than the growth of outstanding loans of the whole industry).

To achieve the above results, the banking sector has proactively reviewed and grasped information, promptly removed difficulties and obstacles, and created favorable conditions for businesses to access credit capital.

Proactively deploy and promote digital transformation in operations, meeting the requirements for new business models and products and services on information technology platforms, digital banking, and digital payments.

The provincial State Bank regularly directs and supervises credit institutions to effectively implement credit programs to support people and businesses; maximally focusing capital resources on production, business, priority areas and national target programs. In particular, creating maximum conditions for businesses to access bank loans when they have good business plans.

Credit institutions have proactively reviewed and assessed credit quality and bad debt handling, ensuring objective and substantive data; regularly strengthened bad debt handling and credit quality control.

According to the leader of the branch of the Vietnam Joint Stock Commercial Bank for Industry and Trade ( VietinBank ) in the province, to strengthen the connection, the units regularly organize seminars and work in groups with businesses in the same industry such as construction materials production, electronic components production, real estate, etc. to accompany and share, thereby building solutions to support and remove difficulties for customers.

Consulting on digital transformation solution packages to reduce costs, time and increase convenience for customers such as online disbursement, online guarantee, ERP connection service...

All branches publicly install QR codes to record customer feedback to promptly report to branch leaders and relevant departments. After receiving feedback from businesses, the units will promptly handle difficulties and problems for customers, combined with proposing solutions to improve product and service quality.

To ensure the harmony of interests of stakeholders, along with the active participation of all levels, sectors, and the banking sector, enterprises need to build and maintain a tight accounting system, ensuring transparent financial reporting, accounting standards and legal regulations.

A clear financial profile will help businesses gain trust from banks, increasing the likelihood of loan approval. At the same time, businesses need to build and maintain a good credit history with banks.

Sharing details with the bank about business plans, upcoming projects as well as difficulties in the business process will help businesses receive better support, as well as access preferential capital sources from the bank.

Enterprises need to develop detailed business/project plans that clearly demonstrate their internal development strategies. Banks will always appreciate those with a clear strategic vision.

Cooperating with banks to use digital transformation products and system connection will also help businesses be highly appreciated by banks in their ability to access trends and information transparency, thereby improving their ability to access capital.

Thanh An

Source: https://baovinhphuc.com.vn/Multimedia/Images/Id/117919/Khong-de-doanh-nghiep-co-phuong-an-kinh-doanh-tot-thieu-von