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Harbin paves way for business loan guarantees, applications

Updated : 2020-04-29

By ( e.my399.com )

In response to the needs of companies that are resuming their operations and production, the municipal government of Harbin — capital of China’s northernmost Heilongjiang province — is implementing preferential corporate loan policies to boost the development of local business, according to officials.
Due to the outbreak of the novel coronavirus worldwide, some businesses in the provincial capital encountered short-term difficulties such as the suspension of operations, a sharp decline in orders, labor shortages and pressures on cash flow.
Officials said that since the rolling out of the corporate loan policies in February, Harbin Enterprise Credit Financing Guarantee Service Center has handled 71 loans involving a total loan amount of 630 million yuan ($88.89 million) for local enterprises.
Small and medium-sized companies with financial needs in Harbin can contact the local industry and information bureau, development and reform commission -- and the departments of housing, agriculture and rural areas, transportation, cultural and tourism -- to consult them on related loan policies and information, as well as to fill in a business loan declaration form.
Officials said financial institutions will take the initiative to connect with businesses based on their declarations and contact financing guarantee institutions to issue loans for eligible enterprises.
To help companies and businesses consult and handle secured loans, enterprises can log onto the following four websites to check the procedures:
Harbin Enterprise Credit Financing Guarantee Service Center
The Harbin branch website of China’s Small and Medium-sized Enterprises
Harbin Financial Guarantee Website
Harbin Small and Medium-sized Enterprise Public Service Platform