Guiyang and Guian exempt counter guarantee for entrepreneurial loans

The Guiyang municipal bureau of human resources and social security has recently issued implementation measures for supporting key employment groups in Guiyang City and Guian New Area in the exemption of counter-guarantee for entrepreneurial loans.

According to the measures, key employment groups applying for individual entrepreneurial guarantee loans of up to 100,000 yuan ($13,759.24) are exempted from counter-guarantee.

Individuals who actively repay their loans, demonstrate strong employment-generating capabilities, and have promising entrepreneurial projects can apply for loan continuation and interest rate support after the expiration of the entrepreneurial guarantee loan. They can apply up to three times.

Individuals applying for interest rate support for entrepreneurial guarantee loans can apply for a qualification review from the local human resources and social security department.

After passing the qualification review, they can submit guarantee and loan applications to the local entrepreneurial loan guarantee fund operating management institution and handling bank.

If they meet the relevant guarantee and loan conditions, they can sign an entrepreneurial guarantee loan contract with the handling bank.