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Through new methods of guarantee and prompt granting of credit line, the Bank helps small and micro enterprises to get out of the woods

At the beginning of the year, Li Yinwei received a "New Year Gift", a small- and micro-business loan with a credit line of USD 310,000, from Chouzhou Commercial Bank, which solved the problem of liquidity shortage facing the enterprise in time.

Li Yinwei has been engaged in cross-border e-commerce business for more than four years, and business has been developing steadily. Due to the impact of the epidemic situation abroad, the delivery speed has become slower and the payment cycle has become longer in recent years. In particular, lack of sufficient fund put him in a difficult position during the Spring Festival.

Fortunately, the staff of Taizhou Branch learned through a pre-holiday visit that the company had financing needs and responded promptly. At the same time, combined with the widespread phenomenon of "guarantee difficulty" of small and micro enterprises, Taizhou Branch touched base with Taizhou Xinbao Fund Financing Guarantee Co., Ltd. to guarantee the credit. In just a few days, a credit line of US$310,000 was issued for Li Yinwei, which not only solved the fund problem, but also saved nearly 60,000 yuan of financing costs.

Similarly, a leisure products company in Dongcheng Town, Linhai City also encountered the problem of tight liquidity. In view of the fact that all the existing assets of this enterprise and its owner have been mortgaged, Taizhou Branch came up with a new method of guarantee and through the second-order mortgage method of the existing small micro-park factory buildings and the house under the owner's name, granted him a working capital loan of RMB 14 million. Due to the insufficient value of the collateral, a numerical control tool company in Wenling needs a loan for new factory buildings. The Bank provided RMB 40 million of credit funds to support the transformation and development of the enterprise through new guarantee methods, such as equity pledge of private enterprises and mortgage of production equipment.

As the first off-site urban commercial bank stationed in Taizhou, Taizhou Branch, has been committed to "serving small and micro enterprises and the real economy" since its opening in 2013. This year, the Branch will increase credit support for major projects such as manufacturing, foreign trade, technological innovation, green & low carbon, and common prosperity, give full play to the role as an inclusive small and micro loan support tool, promote the "zero-cycle, zero-threshold, zero-fee" loan renewal business in a wider scope, and reduce the fund costs of small and medium-sized banks.

In the next step, the Bank, in combination with special products such as second-class "citizen loans", credit-based "tax loans", agriculture-supported "rural revitalization loans" and other support measures such as non-repayment of principal and interest, deferred repayment of principal and interest, and "double insurance" emergency financing, will fully implement the policies of providing door-to-door service to inquire about demands, adopted a three-pronged approach to meet demands, and optimized the procedure to ensure that all demands are met for manufacturing enterprises and small and micro enterprises that have been greatly affected by the COVID-19 epidemic at home and abroad.