Government to End Loan Guarantee Program for Small Companies, Nikkei Says

Japan will end a program that provides a full guarantee on loans taken out by small and midsize businesses at the end of March, Nikkei English News said, without citing anyone.

The program was introduced in October 2008 and was extended for 12 months in March this year, the report said.

After the program ends, the government will continue to fully guarantee loans of up to 12.5 million yen to companies with 20 employees or less, the report said. The state-backed Japan Finance Corp. will also expand direct lending to small firms, the report said.

To contact the editor responsible for this story: Fergus Maguire at fmaguire@bloomberg.net

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