Sands China Ltd. has launched a special financing program for its local SME suppliers, in cooperation with six local banks.
The new program is part of Sands China’s F.I.T. initiative launched in April 2017, which offers Financial Support, Invitational Matching, and Training and Development to local SME suppliers, targeted at three types of local businesses: local small, medium and micro suppliers; “Made in Macao” companies and Macao young entrepreneurs.
Through the Sands China SME Financial Support Programme, six local banks are offering special loans and credit to local SMEs who have contracts or purchase orders with Sands China: Bank of China Macau Branch, ICBC Macau Branch, Bank of Communications Macau Branch, China Construction Bank Macau Branch, OCBC Wing Hang, and BNU. The goal is to support the development of local SMEs through faster, easier and more favorable bank financing loan products.
The six banks have tailor-made this financing program for Sands China’s suppliers, and it is the first time they are accepting contracts and purchase orders as a form of guarantee – a reflection of Sands China’s reliability and robustness.
“Sands China is very pleased to be the first integrated resort operator in Macao to present this new financing program for our local SME suppliers,” said Dr. Wilfred Wong, president of Sands China Ltd. “It is important for our company’s growth to go hand-in-hand with the growth of local businesses, and this latest initiative is part of Sands China’s ongoing and long-term commitment to supporting local SME suppliers. We want our presence in the marketplace to provide opportunities for smaller companies in Macao to benefit from the business opportunities that are created as a result.”
F.I.T. is a component of Sands China’s Local Small, Medium and Micro Suppliers Support Programme. The program is in line with the Macao government’s push to “buy local,” and demonstrates Sands China’s commitment to supporting local enterprises as part of the company’s corporate social responsibility efforts. It is an element of Sands China’s supplier relationship management strategy, which guides the company’s long-standing effort to support local suppliers, whom it views as its strategic partners.