Binhai Launches Policies for Small Businesses Go back »

2015-04-08 | Tianjin

This year, the Binhai New Area has focused on financial policies in favour of small and micro businesses. Binhai has established a risk compensation mechanism for small business' loan applications.

The new area has also granted credit to small and micro businesses. The first 113 medium, small, and micro businesses were granted more than 1.3 billion CNY (207.9 million USD) in credit. Seven banks and 14 enterprises have reached a credit granting agreement.

The new area has assigned 300 staff members into teams to provide financial services a communication with financial institutions, and inspection.

Moreover, Binhai timely gathers enterprises' financial information and the need to apply for loans through big data platform, financial serviced network, and credit evaluation platform. Therefore, the new area is able to better assist the bank to deal with the loan applications by offering comprehensive information.

Source: Business Tianjin Magazine

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