The lender has introduced this new initiative to address the challenges faced by newer businesses, eliminating the usual requirement for a minimum establishment period when reviewing loan proposals.

BAC A BANK is offering a range of free services until the end of this year

As the year-end approaches and business demands rise, Luu Thanh Thuy, director of a small handicraft company in the central province of Ha Tinh, has been actively seeking additional capital to import raw materials essential for production and business growth.

“Despite many banks offering appealing credit packages, newly established companies like ours, which have been operational for only about a year or have transitioned from household business models, often find it difficult to secure loans,” Thuy said. “We frequently encounter obstacles in the loan process, such as failing to meet collateral requirements or having insufficient operational history.”

Recognising these hurdles, BAC A BANK has introduced a product on additional working capital loans for corporate customers. This short-term credit solution is designed to provide essential capital during business cycles, helping companies stabilise their finances and effectively execute their operational plans. Notably, this product does not require a minimum establishment period, making it accessible to young enterprises with only a strong credit history needed for approval.

The product is not only well-suited for young businesses but also offers significant advantages for established enterprises. It features a high maximum loan ratio and generous unsecured loan amounts, making it an attractive option for various business needs.

A representative from BAC A BANK highlighted that this working capital loan is among the most competitive offerings in the market. It provides unsecured loans of up to VND10 billion ($417,000), which represents up to 20 per cent of the loan value. For businesses using real estate as collateral, the loan ratio can reach up to 80 per cent of the appraised value.

“With support from BAC A BANK, we aim to give businesses greater financial flexibility, allowing them to better manage their capital, capitalise on opportunities, and enhance their operational efficiency,” the representative noted.

As businesses face rising capital demands in the third quarter, banks are increasingly focusing on promoting preferential credit products and programmes. These initiatives not only highlight competitive lending rates but also emphasise the simplification of the appraisal process and the diversification of loan and repayment methods.

These factors are crucial for businesses looking for loan packages that align with their specific performance needs.

“During the appraisal process, BAC A BANK’s team has provided us with dedicated and professional support. Their diverse and flexible loan and repayment options align well with our financial plans,” Thuy said. “We have already received approval for our loan application and are now awaiting disbursement.”

The bank’s new credit product for corporate customers is also part of its broader credit programme on 30 years of promoting Vietnamese enterprises, which offers short-term loan rates starting as low as 5 per cent per year. This initiative aims to support businesses with competitive financing options and favourable terms.

To further enhance customer benefits, BAC A BANK is offering a range of free services until December 31. These include free domestic and interbank money transfers, electronic banking services, SMS banking, and the option to open lucky account numbers.

Additionally, the bank is providing early repayment options and a reduction of up to 50 per cent on guarantee fees, international payment fees, trade finance fees, and other preferential policies for businesses that process salaries through BAC A BANK accounts.