Increase business access to credit

In 2025, the 4.0 industrial revolution and digital transformation will continue to develop strongly and this is an opportunity for the banking industry to increase the application of digital technology in product and service development, carry out lending processes, and promote credit activities for businesses. Currently, the whole province has more than 10,000 businesses, of which more than 90% are small and medium enterprises - this is a large potential customer market for banks.

Producing export garments at Nam Tien Garment Joint Stock Company (Nam Truc).

According to experts, the application of digitalization to the lending process is being actively implemented by commercial banks and has brought about clear results. Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) is a pioneer in digital transformation and the application of modern technology to business activities, supporting businesses. In 2024, VietinBank deployed many new digital products to help customers, especially corporate customers, easily access capital. This includes the online disbursement feature for production and business loans, allowing customers to borrow online on VietinBank iPay Mobile with a limit of up to 500 million VND/day without having to go to the bank, simple digital signature without having to complete hard copies of documents and receive disbursement immediately. At Vietnam Technological and Commercial Joint Stock Bank (Techcombank) Nam Dinh Branch, the cooperation with MISA Joint Stock Company to launch a digital lending flow on the MISA Lending capital connection platform aims to shorten procedures and optimize loan time for businesses from the stages of receiving documents, appraisal, approval to disbursement, bringing many benefits to the bank and customers. Specifically, on Techcombank's side, the digital lending flow helps optimize operating costs, increase accuracy in appraisal and lending to customers, contributing to increasing the bank's outstanding advantages in the digitalization journey. Thanks to the automatic assessment and approval process, businesses have accelerated the loan process completely online, with the loan approval time shortened to only 5 minutes. Since its launch, hundreds of businesses have quickly accessed loans from Techcombank. Recently, with the online SME unsecured loan product of Vietnam Prosperity Joint Stock Commercial Bank (VPBank) Nam Dinh Branch for businesses, the approval and credit granting process has been significantly shortened, from 1-2 weeks to 1-2 days, which helps businesses have immediate capital to seize profitable business opportunities, especially in the middle and end of the year... Not only that, businesses do not need to send separate staff to submit/supplement documents (which may take several trips back and forth) as before, all documents and procedures can be submitted and processed 100% online, significantly reducing time and resource costs for businesses. In addition, the online unsecured system is also transparent in all approval stages, customers can proactively monitor the processing status of their documents. Currently, VPBank's online credit limit is 500 million VND, which is also an easy-to-access limit, especially for businesses that do not have/no longer have collateral or businesses that need urgent capital for seasonal orders but do not have enough time to carry out normal loan procedures. In the coming time, VPBank will continue to research and improve the online credit system and increase the limit from 500 million VND to 3 billion VND.

According to the report of the State Bank of Vietnam, Region 7 - Nam Dinh, in the first 4 months of 2025, credit institutions (CIs) disbursed loans of VND 26,373 billion, of which loans to the agriculture, forestry and fishery sector reached VND 732.6 billion; loans to the industry and construction sector reached VND 11,070 billion; loans to the trade and service sector reached VND 10,507 billion; other economic sectors reached VND 4,062 billion. Total outstanding loans to businesses in the first 4 months of 2025 reached VND 43,356 billion with 1,892 customers. In addition, the State Bank of Region 7 - Nam Dinh also proactively and effectively implemented the Bank - Enterprise Connection Program through appropriate forms of activities such as organizing conferences/working sessions to connect, dialogue, and share (replacing customer conferences that are only for gratitude and exchange) to remove difficulties in capital and interest rates and have specific, timely, and flexible solutions to improve access to credit capital for people and businesses, thereby promoting credit growth. In the first quarter of 2025 alone, through 5 conferences connecting banks and businesses, credit institutions disbursed more than VND 5,212 billion in new loans; at the same time, reduced interest rates and fees for 50 corporate customers with a total outstanding loan balance of more than VND 2,000 billion.

In the coming time, local credit institutions will continue to research and develop credit products specifically for the province's economic and consumer spearheads; promote lending through electronic and online forms. Actively and proactively approach, guide, and resolve loan requests and interest rate support from businesses and people for the interest rate support program from the State budget for businesses, cooperatives, and business households; continue to review and simplify internal processes and procedures, simplify the list of loan applications to speed up the speed and time of processing customer applications; strengthen digital transformation to improve access to banking products and services for businesses and people. The State Bank of Vietnam, Region 7 - Nam Dinh will direct credit institutions to continue to resolutely and effectively implement support solutions, creating favorable conditions for customers to access bank credit capital on the basis of reviewing, simplifying and shortening procedures, enhancing technology application and digital transformation... contributing to the successful implementation of the credit growth target of 16% in 2025.

Article and photos: Duc Toan

Source: https://baonamdinh.vn/kinh-te/202506/tang-kha-nang-tiep-can-tin-dungcua-doanh-nghiep-19a18da/