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October 25, 2021

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Home » District » Jiading

New financing policy for companies a big boost to product development

Jiading District has innovated and improved the policy of financing guarantee system for small, medium and micro enterprises since March.

Jiading led the guarantee business of Jiading sci-tech loan, built a city and district-linked “government plus guarantee plus bank” policy financing service platform and established a cooperation mechanism to help solve the financing difficulty.

A total of 109 enterprises received 500 million yuan (US$78 million) in sci-tech loans.

Jiading-based company Zhuxin Construction focusing on the construction of green and new buildings received a sci-tech loan of 5 million yuan, just when it needed a lot of investment for the research and development of underground pipelines in prefabricated buildings.

“This fund is of great help to our company. We will use it in the research and development of new green building products,” said Wang Shaobo, company’s chairman.

The company received the loan within one month. The interest rate is 3.85 percent, which is much lower than the batch loan interest rate of about 5 percent, and the guarantee fee will be returned at 0.5 percent of the guarantee amount, further reducing financing costs.

“We conduct in-depth analysis and review of the data provided by the company, understand the situation of the company from its financial status and provide a complete financing scheme according to the actual financing needs of the company,” said Lu Shunjie, manager of inclusive financial division of the Industrial and Commercial Bank of China’s Jiading branch.

Lu noted the introduction of “Jiading sci-tech loan” accelerated the lending speed of financing guarantee business for small, medium-size and micro enterprises.

Meanwhile, an auto parts manufacturer headquartered in Jiading received a 1.5 million yuan sci-tech loan from the Shanghai Rural Commercial Bank within a month. It has been used for vehicle development and testing tools.


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