This July 25, 2019 photo shows the headquarters of HSBC in Hong Kong. (PAUL YEUNG / BLOOMBERG)

Hong Kong businesses are set to benefit from over HK$30 billion (US$3.9 billion) in liquidity relief offered by HSBC Holdings Plc to support firms as the deadly coronavirus weighs on the economy.

Measures include a principal repayment moratorium for borrowers with commercial loans secured by property, as well as those with taxi and public minibus loans, according to a statement from HSBC on Sunday. 

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Trade finance customers can also apply for access to an overdraft of up to HK$10 million for six months to help with daily operational needs like employee payrolls and rent.

“We are committed to supporting our customers and will introduce more initiatives that will provide near-term relief,” Diana Cesar, the bank’s local chief executive, said in the statement.

Banks across the city are considering loan relief to help struggling customers and businesses as the outbreak crimps spending and travel, while Hong Kong’s finance chief has urged landlords to provide rental relief to struggling firms. 

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The Hong Kong Monetary Authority said Thursday that lenders had informed it of plans to “roll out temporary relief measures to help tide their customers over during this difficult time.”