OCB provides financial support products to distributors of fast-moving consumer goods (FMCG) with a credit rate of up to 150% of the collateral value.
The general purchasing power of the entire society declined as a result of the impact of Covid-19 in comparison to previous years. However, in preparation for the Lunar New Year, the year's most important festival season, when people's shopping demand has risen significantly, experts predict that consumers will be more comfortable spending at the end of the year, particularly on consumer goods such as clothing, shoes, confectionery, food, ornamental plants, flowers, and furniture decorations, among other things, wishing a warm and prosperous New Year to family and loved ones.
Many firms and wholesalers must constantly prepare a big quantity of items in stock as well as capital needs in order to meet the increased shopping needs of the public before the Lunar New Year. However, not all distributors have easy access to low-cost, simple, and quick financing.
Understanding the challenges that distributors experience in obtaining this short-term capital increase, OCB offers the ""Financial support for distributors of fast-moving consumer goods (FMCG)"" product, which offers a credit rate of up to 100% of the collateral value. For each distributor, the additional grant amount is up to 70 billion VND without collateral. During Tet, the bank will provide an additional unsecured limit with a preferential working capital loan interest rate of 6% per year, which will last until June 30, 2022.
OCB provides financial support for FMCG distributors with preferential interest rates.
In addition to this program, OCB continues to offer a minimum interest rate reduction of 0.5% per year for short-term loans and a maximum reduction of 50% of the guarantee letter issuance fee for corporate customers when compared to ordinary customers, as well as free transactions on OMNI.
OCB hopes to join forces with its distributor partners to solve the problem of capital for distributor partners during peak season, increase sales by increasing storage capacity, and reduce costs for businesses through the product ""Financial support for distributors of fast-moving consumer goods (FMCG)."" Then, by enhancing competitiveness against competitors and tighter collaboration with suppliers and large manufacturers, distributors will feel safer in their ability to focus on company development.