Working capital of $45.61m approved for Harbin companies
Updated : 2020-07-09
By ( e.my399.com )
They said that due to the outbreak of the novel coronavirus worldwide, some businesses in Harbin encountered short-term difficulties such as the suspension of operations, a sharp decline in orders, labor shortages and pressures on cash flow.
In response to the current situation of slowing down payments, tight capital liquidity and difficulties in repaying loans, the Harbin Guarantee Center launched a series of working capacity preferential policies to support local enterprises.
Under the policies, the range of industries supported by the working capital will expand from industrial enterprises to full-caliber industries, including agriculture, retail and wholesale and transportation.
An enterprise can carry out staged borrowing involving multiple capital turnover, according to the orders or production cycle.
According to the needs of enterprises, the minimum requirement of working capital of 3 million yuan will be abolished, and the strict upper limit of 10 million yuan will be relaxed.
Meanwhile, the handling fees of working capital will be halved; and the use period of each working capital will be increased from 30 days to 60 days.
To date, Harbin Guarantee Center has approved working capital at 9.3 billion yuan for 1,379 enterprises.
Harbin has made major progress in improving its environment.
The financial departments recently allocated another 320 million yuan to support companies that are resuming their operations and production.
Policies rolled out by Harbin -- in response to the needs of small and micro-sized enterprises that are resuming operations and production -- have taken effect.
The Harbin area of the China Heilongjiang Pilot Free Trade Zone recently rolled out initiatives to simplify registering and starting up companies, shortening the entire process to within around one hour.