HKMC's interim results give the current state of the SME Financing Guarantee Scheme. For banks and SME lenders, the product map has changed: one guarantee is still open, two have ended.
The Hong Kong Mortgage Corporation published its interim results for 2026 on 26 October. Alongside the financial figures, the release sets out where each product of the SME Financing Guarantee Scheme (SFGS) now stands.
The 80% Guarantee Product remains open. It has approved more than 30,400 applications totalling about HK$129.6 billion, and its application period has been extended to the end of March 2028. The 90% Guarantee Product has approved more than 20,400 applications, about HK$35.5 billion, and its application period expired at the end of March 2026. The Special 100% Loan Guarantee approved more than 67,100 applications, about HK$143.9 billion, and closed at the end of March 2024.
On its own results, HKMC reported interim profit after tax of HK$3.0 billion and a capital adequacy ratio of 18.6%. New drawdowns under the New Mortgage Insurance Programme were HK$15.5 billion, 73% of them on secondary-market properties.
For SME lending teams, the practical point is that only the 80% product is available for new applications. Borrowers who remember the 90% or 100% products will still ask for them. A facility that was approved under one of the closed products keeps its terms, so a lender's book can now hold three guarantee types with different cover ratios and different claim rules, side by side.
That is a data question as much as a credit one. Each facility needs to carry its guarantee product, cover percentage, guarantee period and the conditions for a claim, so that provisioning, monitoring and any eventual claim use the right terms. With the 80% product now running to 2028, it will remain part of SME credit structuring for at least another eighteen months.
Covenant Desk publishes regulatory context for Hong Kong lending operations, not legal advice. Confirm how anything here applies to your licence with your own advisers.