SME FINANCIAL SUPPORT SCHEMES Macao Government has implemented three financial support schemes to assist development of small and medium enterprises (SMEs) and improvement of business environment in general, with a view to enhancing and strengthening the SMEs’ capabilities and competitiveness. A SME under the definition of Government for the schemes is individual entrepreneur or company that accumulate the following requirements: Registered in the Macao Finance Services Bureau for fiscal purpose Employing less than 100 employees The employees perform their work in Macao   In case of company, more than 50% of its capital must be hold by Macao residents. There are three types of support schemes and their details are summarised below: SME credit guarantee scheme This is a loan guarantee scheme whereby Macao Government acts as the guarantor of individual SMEs to facilitate them to secure loans from participating financial institutions through administration of a SME credit guarantee fund established by Government. Eligible applicant must be a company which has been registered in Macao not less than one year, and fulfil definition of a SME of Macao Maximum loan amount for each SME is MOP3,000,000, 50% loan guarantee offered by the Government Loan repayment period is up to a maximum of five years Interest on loan is chargeable at rate determined between the borrower and the lending institution concerned   SME specific project credit guarantee scheme Objective of this scheme is to help SMEs to obtain finances from participating financial institutions for their working capital needs relating to specific operational projects. Eligible applicant must be a company which has been registered in Macao not less than three years, and fulfil definition of a SME of Macao The loan must be used solely for the funded project, including the advancing, remodelling, innovating business operations, upgrading product qualities, and promoting self product brand, etc. Maximum loan amount for each SME is MOP1,000,000, 100% loan guarantee offered by the Government Loan repayment period is up to a maximum of five years Interest on loan is chargeable at rate determined between the borrower and the lending institution concerned   SME business support scheme The scheme aims at providing financial support to SMEs to assist them to improve their business operations. Successful applicants under this scheme are to be funded directly by the Government through an industry and commerce development fund. Eligible applicant must be a company which has been registered in Macao not less than three years, and fulfil definition of a SME of Macao The fund under this scheme must only be used for meeting the additional operational expenditure arising from the acquisitions of business installations and equipments, as well as shop renovations. Maximum funded amount for each SME is MOP100,000 No interest is chargeable to the borrower