Efforts to 'open' credit flows

The private economy plays an increasingly important role in growth, so the need for access to credit capital is urgent.

Collateral is still one of many barriers when businesses and enterprises want to access credit capital. In the photo: This showroom's used car lot is not accepted as collateral for bank loans.

'Unleashing' credit flows is not only the bank's own growth goal, but also creates a driving force to promote the entire economy .

Businesses speak out…

Private enterprises, especially household businesses and small and medium-sized enterprises, are an economic sector that accounts for a very large proportion of the business community in Vietnam. Hai Duong is no exception to this trend. However, this group of household businesses and enterprises often faces some barriers when accessing bank capital.

For example, with the business household Hai Phat Auto (Tu Minh ward, Hai Duong city). Although the used car business, a field with a fast capital turnover rate, requires a large amount of working capital, the owner of this business household mainly borrows from banks by mortgaging personal assets. Part of the reason is because the bank credit products for business households are not as diverse as for enterprises.

“Even if we want to transform ourselves into a business to expand our scale and standardize our financial operations, accessing bank credit is not easy. The most difficult thing is the collateral. Our inventory of vehicles are used vehicles, all valued at VND500 million or more. However, these vehicles are not recognized as collateral for bank loans because they are used vehicles,” said Mr. Le Phu Da, the business owner.

Another reason is that the input source, which is used cars, is mainly purchased from residents. “Car transactions are mainly through notarized contracts, without input invoices. This leads to the inability to issue VAT invoices (value added tax invoices). Therefore, it is difficult for us to prove revenue and cash flow to banks,” Mr. Da further analyzed.

Also facing the issue of collateral, Moc An Hai Company Limited in Luong Dien Commune (Cam Giang) has been struggling with the problem of borrowing capital from banks for many years. Mr. Pham Van Chuong, Director of this enterprise, shared that since its establishment in 2022, the capital to maintain the enterprise's operations has all come from individuals.

“We have to borrow credit packages for individuals, then use that capital to contribute to the company. For large economic groups, accessing capital can be easy. However, for small businesses like us, banks will basically base their appraisal on highly liquid assets, mainly real estate, which we do not have. Meanwhile, machinery and products are not accepted as collateral for loans,” Mr. Chuong shared.

Many businesses expect banks to develop specialized financial products such as output contract loans...

According to the report of the State Bank of Region 6, by the end of the second quarter of 2025, the total outstanding debt of the banking sector in Hai Duong province is estimated to reach 163,434 billion VND, an increase of nearly 1,500 billion VND compared to the end of May 2025. However, the total mobilized capital is at 228,590 billion VND, an increase of more than 1,800 billion VND compared to the end of May 2025. Therefore, the gap between mobilization and outstanding debt has widened to nearly 65,160 billion VND, an increase of nearly 400 billion VND compared to the end of May.

…waiting for a response from the bank

The mobilization interest rate in the first half of this year was maintained at a low level, around 5%/year for a 12-month term at banks without state capital, around 4.7%/year for the same term at state-owned banks. This created conditions for maintaining a low lending interest rate. At some banks such as Agribank Hai Duong branch, BIDV Thanh Dong, MB Hai Duong..., short-term lending interest rates were commonly at 4 - 8.2%/year, medium and long-term lending interest rates ranged from 7.2 - 10%/year.

Low deposit interest rates still attract deposits, low lending interest rates but the gap between deposits and outstanding loans remains high. “This shows that the savings channel is still attractive to people, because of the psychology of wanting to find a safe place to invest in the context of an unpredictable economic situation. On the other hand, the demand for loans and the ability to absorb credit are still limited. In other words, the credit flow to businesses may still be uneven,” analyzed Mr. Nguyen Duy Binh, Deputy Director of BIDV Thanh Dong.

Giving priority to lending to customers with high-value collateral and good credit records is understandable and legal, because banks, by nature are capital-trading enterprises, are required to comply with strict regulations on credit safety.

“In addition to efforts to maintain cheap capital through preferential credit packages, we will deploy a variety of credit products suitable for each industry and economic sector in the locality. Thereby promoting credit growth, narrowing the gap between mobilization and lending,” said Mr. Binh.

Many businesses expect banks to develop specialized financial products such as unsecured loans based on business cash flow, loans based on assets created from borrowed capital, or loans based on output contracts...

In addition, banks should expand their credit assessment models based on actual transaction data, instead of focusing only on collateral. Big data and artificial intelligence can be used to assess corporate creditworthiness based on transaction data, electronic invoices, payment history, etc.

Unblocking credit capital is not only the task of banks or businesses, but requires a synchronous legal corridor, transparent policies and initiative from both sides.

“However, to expand unsecured credit, it is necessary to form a clearer and more specific legal corridor for cash flow lending,” said a representative of a bank in the province.

In fact, in recent times, the banking system has had many practical policies to accompany private enterprises such as restructuring debt repayment terms, waiving interest rates, supporting recovery after epidemics and natural disasters. Commercial banks are also constantly innovating, diversifying credit products, and digitizing lending processes.

Therefore, access to capital does not only depend on the bank but also requires businesses to change. Businesses need to be transparent in their financial reports, proactively develop business plans and clear, feasible capital usage plans. When trust and transparency go hand in hand, capital flows will be unblocked and operate smoothly like the blood vessels that nourish the economy.

HA KIEN

Source: https://baohaiduong.vn/no-luc-khoi-dong-von-tin-dung-415190.html