Qingzhen backs entrepreneur loans

Since the start of the year – affected by policy adjustments and changes in the method of the disbursements of funds – various loans for entrepreneurs have reportedly been more difficult to secure in China.  

But a small loans guarantee center established in Qingzhen – a county-level city administered by Guiyang, capital of Southwest China's Guizhou province – has taken the lead in advancing funding to budding businessmen and businesswomen.

To date, Qingzhen has issued 88 small business secured loans, involving 16.67 million yuan ($2.57 million), which have helped to employ 274 people.

Qingzhen has reportedly used the publicity channels of townships, towns and sub-district offices – as well as the banks – to inform people of the help being provided.

The Qingzhen small loans center is said to have cooperated with three banks and utilized different financing models, to increase the loan application success rate as much as possible.

At present, the three banks are each responsible for handling a different kind of secured entrepreneur's loan and the total funding issued this year has reportedly exceeded 4 million yuan.

The normal processing time is within 15 days, so that eligible businesses can get support in the shortest time.