Overseas Credit Guarantee Fund (Taiwan), hereinafter referred to as the Fund, was founded by the OCAC in 1988 and has been supervised by the OCAC since 2010. The Fund provides credit guarantees that assist overseas compatriot entrepreneurs in acquiring loans for business purposes.
In light of the COVID-19 pandemic, which has caused a huge impact to global economics, the OCAC has guided the Fund to offer timely help to the affected overseas compatriot entrepreneurs. The programs provided include:
I. Large loans: loan facilities up to 2 million USD for every borrower, with guarantees up to 80%.
II. Businesses whose average monthly revenue in 2020 has declined up to 15% (verification by financial institutions required) compared with last year can apply for guaranteed loans within 6 months of the launch of the program, which includes:
1. Small loans: loan facilities up to 100,000 USD with guarantees up to 85%.
2. Loan extension: borrowers with existing loan payment yet to be paid off can apply for additional time.
3. Guarantee fee deductible: in the first year of the extension period, the guarantee fee is deductible by a half (0.6% goes to 0.3% in the first year); in the period of small loans, the guarantee fee is deductible by a half (0.6%, 0.5%, and 0.4% from the 1st to the 3rd year go to 0.3%, 0.25%, and 0.2%).
The OCAC has asked the Fund to instruct lending banks to streamline the application procedures and provide timely funding for overseas compatriot businesses to maintain development and sustainability. Loan extension applications can be reviewed any time, and small loans can be issued in a week if all required documents are provided.
Borrowers can apply for the Fund in 193 financial institution branches located in 50 metropolitan areas in 24 countries. Where there is no branch, the borrower can apply through the offshore banking units (OBU) in local banks. For more information on the Fund, please reach Ms Liu or Ms Lan at ext 18 or 17, +886-2-23752961.
