HCMC – Asia Commercial Joint Stock Bank (ACB) has launched a new campaign offering a range of credit packages with competitive interest rates and attractive gifts. This campaign is targeted towards entrepreneurs seeking capital to grow their businesses.
Soaring demand for capital
Analysts have predicted a stronger economy in 2024, fueled by positive signals from businesses, including a surge in new market entrants and companies returning to operation. According to data from the Ministry of Planning and Investment, nearly 14,000 new enterprises were established in January alone, increasing 24.8% year-on-year. More than 27,000 businesses re-entered the market, 1.3 times higher than the 2018-2023 average.
With public investment activities receiving a significant boost, sectors like infrastructure, construction materials, logistics, and industrial real estate are poised to experience a substantial impact. This momentum is emboldening businesses to expand and reinvest.
Adding to the positive outlook, foreign direct investment (FDI) continues to pour into Vietnam, signaling a bright future for the economy. In the year to February 20, the Ministry of Planning and Investment reported, new FDI approvals had amounted to US$4.29 billion, surging 38.6% over the same period in 2023.
Fueled by recent analyses and data from banks, businesses have shown a significant uptick in interest for credit packages since the start of the year. Seeking to capitalize on the positive economic outlook, they are looking for favorable interest rates and stronger support from reputable banks.
Tran Manh Thang, director of a construction company, said that his company is currently securing a preferential loan from ACB to facilitate project tendering and invest in new projects. Facing a significant post-Lunar New Year capital need, Thang opted for ACB’s online disbursement option for faster access to funds. He also cited favorable interest rates, flexible prepayment policies, and attractive incentives from ACB as key factors in his decision.
Similarly, Bui Hue, executive manager of a natural cosmetics company, is considering ACB’s special loan packages tailored for women-owned businesses. Attracted by the large online disbursement capital based on business plans, simple procedures, and other favorable policies, Hue expressed her preference for the loan package catered to customers in ACB’s green category.
ACB supports businesses with preferential loan options
As Vietnam’s economic conditions are improving, ACB is stepping up its support for businesses, with a particular focus on small and medium-sized enterprises (SMEs).
ACB’s loan offerings are praised for their close alignment with practical business needs, making it easier for enterprises to access funds. This reflects their commitment to supporting businesses by offering competitive products and services across various lending options, catering to diverse business sizes and sectors.
Demonstrating its commitment to sustainable development, ACB launched a new VND2-trillion loan package at the start of the year, targeting businesses adhering to green and social practices. This initiative underscores ACB’s commitment to sustainable development, with environmental, social, and corporate governance (ESG) as a guiding developmental goal. In addition to competitive interest rates, businesses aligned with ESG principles also benefit from streamlined application processes and fee waivers when choosing the online disbursement option, granting them flexible and anytime access to funds without visiting a counter.
Choosing the right loan solution for optimal cost optimization and competitive advantage
Understanding the unique needs of construction businesses, ACB provides tailored financial solutions. These include customized capital structuring, payment guarantees, and even credit syndicates, empowering them to access significant funding. They can potentially secure up to 80% of their contract value with escrow deposits as low as 0%.
ACB also offers flexible and competitive financing solutions for businesses trading products such as plastic beads, steel, and completely built-up cars. These solutions are tailored to the specific needs of each trade, considering factors like the origin of the shipment, be it imported or domestically manufactured, and the chosen loan structure. Businesses can potentially access funding of up to 80% of the shipment value.
For businesses involved in imports or payments through letter of credit (L/C) to domestic suppliers, ACB offers L/C-based financing, with several advantages in terms of simplicity, speed, competitive fees, and diverse security options.
Moreover, ACB offers rewards for businesses using their L/C financing solution. These rewards include the chance to win a Mercedes car, 9999 gold, or a VND100 million Visa debit card. New L/C disbursements made between February 8 and March 25, 2024, automatically enroll businesses for periodic prize draws, with winners announced on April 4, 2024.
ACB is offering a prize draw for customers who open new L/Cs at their branches between January 15 and June 30.
customers making new L/C disbursements at an ACB branch from January 15 to June 30 can participate in an online prize draw. Participants are guaranteed to win a prize, including the chance to win one of three brand-new iPhone 15 Pro Max smartphones. See full details here: https://uudai.acb.com.vn/
ACB has emerged as a top choice for businesses seeking capital, offering diverse loan options tailored to specific industries. With competitive interest rates and a streamlined borrowing process, businesses can confidently secure funding for their production and operations.
