Dedicated 100% Loan Guarantee Scheme – administered by HKMC Insurance Limited
Dedicated 100% Loan Guarantee Scheme is administered by HKMC Insurance Ltd (“HKMCI”), aiming to support licensed travel agents, owners of local tour coach and the eligible registered vehicle owners or ferry owners/operators of cross-boundary passenger transport to facilitate their business resumption alongside the gradual tourism recovery. The scheme also further supports and encourages taxi owners to replace LPG, gasoline or hybrid taxis with electric taxis, promoting the use of electric taxis and developing green transportation, which helps achieve the carbon neutrality target of Hong Kong.
Main features:
| Specified Sectors |
For Travel Sector |
For Cross-boundary (CB) Passenger Transport Trade |
For Battery Electric Taxis |
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| 01 - Licensed Travel Agents | 02 - Local Tour Coach Owners1 |
03 - CB Coach Owners1 |
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05 – CB Ferry Owners / Operators | 06 - Taxi Owners | |||||||||
| Product Code | (LTA100) | (LTC100) | (CBC100) | (CHC100) | (CBF100) | (ETX100) | ||||||||
| Loan Purpose |
The proceeds from the Loan must be used for meeting needs in general working capital for the Borrower's resumption of business. |
The procceeds from the Loan must be used for repair and/or maintenance of and/or buying comprehensive insurance for the relevant vehicle(s) or vessel for the Borrower's resumption of (for the Scheme 02) business or (for the Scheme 03, 04 and 05) cross-boundary passenger transport services. | The proceeds from the Loan must be used for the purchase of an e-taxi for replacing a taxi which is not an e-taxi. | |||||||||||
| Maximum Loan Amount |
According to no. of employee2
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HK$100,000 per eligible tour coach |
HK$100,000 per eligible cross-boundary coach |
HK$80,000 |
HK$2,000,000 per eligible cross-boudary ferry |
Purchase price per each eligible e-taxi, capped at HK$350,0003
Note: Please apply this loan at the existing bank for the taxi hire-purchase agreement (if any) |
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| Facility Type | Term Loan | |||||||||||||
| Maximum Loan Tenor | 10 Years | |||||||||||||
| Interest Rate | HKD Prime Rate4 - 2.5% p.a. | |||||||||||||
| Application Fee | Full waiver | |||||||||||||
| Programme Period | Now until 28 April 2024 | Now until 3 Septemeber 2028 |
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| Contact Us |
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Apply Now [HKMCI 100% DLGS Application Form (For Travel and CB Passenger Transport Trade)] [HKMCI 100% DLGS Application Form (For Battery Electric Taxis)] [BEA 100% DLGS Application Form] and [Input Guide (only available in Chinese)] |
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SMELoan@hkbea.com1 If the Borrower holds both A01 and A05 endorsements for the relevant PSLC, the Borrower should submit an Application Form under Product Code CBC100 instead of Product Code LTC100.
2 The number of employee is based on:
(a) For licensed travel agents that have applied for and received subsidy under Anti-epidemic Fund (AEF 2.0), the loan amount will be subject to the cap of the number of staff members as at 31 March 2020 according to the records of AEF 2.0;
(b) For licensed travel agents that have neither applied for nor received any subsidy under AEF 2.0, the loan amount will be subject to the cap of the number of staff members for any two consecutive months on or before the launch date of the Scheme (29 April 2023) but no earlier than 31 March 2020, which shall be supported by the proof of payroll records and MPF payments together with the MPF remittance statements filed to the MPF service provider for the two concerning months.
3 If any New Energy Transport Fund ("NET Fund") subsidy issued by Environment and Ecology Bureau ("EEB") is received after loan drawdown, such NET Fund subsidy shall be used to repay any amount due by the borrower under tha loan.
4 Refers to the HKD Prime Rate quoted by the Hong Kong Mortgage Corporation Limited ("HKMC") from time to time.
5 Please refer to the latest announcement by HKMC Insurance Limited ("HKMCI") for the most up-to-date information.
