JASMECJapan Small and Medium Enterprise Corporation
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Since the major part of default losses (70-80%) is re-guaranteed by the JASMEC, high default rates resulting from CGCs' assessments of applicant firms would not harm the CGCs.
80 Average 6 Value of Average $220,450 $46,590 Loan Share of Loans to N/A 60 Start-ups (%) NeNew Commitments 45,000 30,000 (1998) Japan Overall Financial Bank-centered Structure Established 1937 Participating Organizations 52000s, NFCGC, JASMEC Lenders' Discretion No discretion Specific Eligibility No specific of Borrowers criterion Use of Proceeds Allow for working capital, not for refinancing Size of Loan Usually $1.
JASMEC makes insurance payments as part of a loan facility the government introduced in October 1998 to help small businesses cope with a credit crunch at the time.