SME subsidies: Over MOP40 mln disbursed in June

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Some MOP41.8 million-worth of subsidies were granted to young entrepreneurs and small and medium enterprises (SMEs) during the month of June, according to the most recent information from the Macau Economic Services (DSE). This represents a 21 per cent jump from the same month last year, and a 119.3 per cent increase month-on-month.
The support is divided into three SME aid schemes and one Young Entrepreneur Aid Scheme.
The SME Aid Scheme, offering interest-free loans of up to MOP600,000 per applicant, awarded MOP20.47 million during the month, a 55.3 per cent increase month-on-month, the third highest value attributed so far this year. This was divided between 50 approved applications for funding under the scheme.
The SME Credit Guarantee Scheme granted MOP18.67 million during the period, divided between nine applicants, the most so far granted this year under the scheme. The SME Credit Guarantee Scheme for Special Projects did not grant any loans or subsidies last month, having so far this year only granted one, a MOP2 million loan in April, to two approved applicants.
Total loans approved so far this year under both the SME and Young Entrepreneur schemes, until end-June, amounted to MOP179.92 million, with the Young Entrepreneurs receiving MOP2.68 million in funding in June and MOP22.28 million in funding during the first five months of the year.
The scheme offers interest-free loans of up to MOP300,000 for applicants aged 21 to 44, with repayment for the loan starting after 18 months.
The major recipients of the scheme so far this year were the commerce and retail sector, with 47.3 per cent of the funding, or MOP10.53 million, while the next largest recipient was the services sector – at 13 per cent, or MOP2.9 million.
The largest recipients of the SME credit schemes were largely grouped in the Construction and Public Works sector, with a total of MOP34.23 million attributed so far this year, while the retail trade has received MOP42.48 million so far this year.