Hong Kong-based Fusion Bank, a virtual bank strategically invested by Tencent Holdings, has launched its business loan services with two products – Business Instalment Loan 365 and Start-Up Loan 162 – to meet the financing needs and enhance the cash flow of small and medium-sized enterprises (SMEs) at various stages of business with a loan amount on offer of up to HK$5 million (US$641,535).

Business Instalment Loan 365 is tailored for companies with an operational history of three years or above. Clients are only required to provide six months of bank statements to qualify for a loan up to HK$5 million.

Start-Up Loan 162 is designed for companies that have been operating for a minimum of one year. Clients only need to provide six months of bank statements to apply for a loan up to HK$2 million.

Unlike many other institutions that offer dedicated support primarily to clients with larger loan size, all of the bank’s business banking clients, regardless of loan size, will receive comprehensive assistance from a dedicated relationship manager throughout the entire process, allowng the approval process to be completed in as fast as three days.

“SMEs are the bedrock of Hong Kong’s economy,” says Jared Shu, the bank’s executive director and CEO. “Leveraging our fintech capabilities, our newly launched business loan services not only enable SMEs to access financing more efficiently, but also allow them to navigate through operational challenges with greater ease and seize new growth opportunities.”