From 1 April 2020, Small and Medium Enterprises (SMEs) are able to access the SMEs Development Fund (SMEDF) through BIDV branches at a preferential lending rate from 6% p.a.

In particular, with the fund from SMEDF, SMEs in Vietnam are exposed to the opportunity to access low-cost loans, for example the medium and long term loans offer a fixed 6% p.a. lending rate throughout the tenor of up to 7 years. The SMEDF’s preferential loan is designed for innovative start-ups and SMEs in industrial clusters and value chains. This major financial support from the Government is an opportunity for SMEs to realize business ideas and expand business activities. With a more preferential interest rate, the cooperation between BIDV and SMEDF promises efficiency and strong development momentum for businesses in general and SMEs in particular, toward the target of having 1 million efficient private businesses as set by the Government.

Kim Long Production and Trading Service Co., Ltd (Cau Giay Industrial Park, Hanoi) with equipment lines financed from the fund of SMEDF (entrusted via BIDV)

 BIDV was the first bank to be selected by the SMEDF to implement this financing program, also the best performer in disbursing the capital of the Fund, covering 55% of the Fund's disbursed capital. Projects disbursed by BIDV are of good credit quality, which have been recognized by the SMEs community and created momentum for SMEs in recent years.  By Q1/2020, BIDV has served more than 293,000 SMEs customers, with nearly VND285,000 billion of outstanding loans.

The bank’s effort to support SMEs has been recognized and awarded by international organizations. In 2019, BIDV was honored to receive “Best SME Deal” Award by The Asian Development Bank (ADB); “SME Bank of the year - Vietnam 2019” and “Corporate Client Initiative of the Year” Award by Asian Banking & Finance for the 2nd consecutive year; “Best SME Bank of Vietnam” Award by ASEA; Top 10 Sustainable Business by The Vietnam Business Council for Sustainable Development; Top 10 Trust & Use of Vietnam; etc.