The city’s young start-ups and small and medium enterprises (SMEs) were approved a total of MOP27.73 million (US$3.5 million) in loans in March by the government via three different financial aid schemes, according to the latest data released by Macao Economic Services (DSE). Last month, the Bureau’s SME Aid Scheme granted loans totalling MOP16.7 million to 41 local small and medium-sized firms, representing a drop of 10.5 per cent compared to the MOP18.6 million disbursed in February. Meanwhile, 138 applications were approved loans during the first three months of the year, in the total amount of MOP55.8 million. The SME Aid Scheme, implemented since May 2003, offers interest-free lending of up to MOP600,000 per applicant for different financial purposes. This year local retailers have been the biggest beneficiaries of the scheme so far. The subsidised retailers received MOP17.4 million-worth of loans from the government, which accounted for 31.1 per cent of the total. In addition, real estate agencies were granted loans of MOP8.75 million during the period, some 15.7 per cent of the total. Another SME-targeted scheme of the Bureau – the SME Credit Guarantee Scheme – approved MOP2.1 million-worth in lending to one local firm last month, compared to MOP24 million granted to nine companies in February. During the first quarter of this year the scheme’s MOP26.1 million in grants was primarily shared by businesses engaged in four fields; namely, wholesale, construction and public works, F&B establishments and hotels, and real estate services. Each respectively received MOP8.7 million, MOP7.7 million, MOP3.5 million and MOP6.23 million from the scheme in the three months, accounting for 33.3 per cent, 29.5 per cent, 13.4 per cent and 23.8 per cent of the total. The credit guarantee scheme provides each beneficiary with a credit guarantee equal to 70 per cent of the loan approved by the participating banks, up to MOP 3.5 million. Lending to young start‑ups jumps Meanwhile, the Young Entrepreneur Aid Scheme disbursed loans of MOP8.95 million to local young start-ups in March, which increased by 94.5 per cent compared to the MOP4.6 million advanced in February. Throughout the month, the Bureau received a total of 22 applications and green-lighted 37 applications that it had previously received. Between January and March, the Bureau approved total loans of MOP20.3 million to young start-ups through the scheme. Some 33.4 per cent of the total went to young entrepreneurs engaged in retail businesses, amounting to MOP6.79 million at the end of March. Cumulatively, the Bureau’s approved lending to young entrepreneurs totalled MOP155.98 million since the scheme was implemented in August 2013. The aid scheme offers interest-free loans of up to MOP300,000 (US$37,500) for young start-ups. Entrepreneurs aged between 21 and 44 are eligible for a loan for eight years, with repayments starting after 18 months.
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