Start me up

The Macao Economic Services (DSE) has approved lending of MOP53.7 million (US$6.7 million) to the city’s SMEs and young start-ups in August via four of its financial aid programmes, according to the Bureau’s latest official data Business Daily reported. For the month, local SMEs received MOP46.5 million-worth of loans from the economic department via its three SME aid programmes. Of the total, MOP34.7 million was disbursed under the SME Credit Guarantee Scheme – providing each beneficiary with a credit guarantee equal to 70 per cent of the loan approved by the participating banks. The approved lending in the month was shared by 16 approved applicants.